Singapore Airlines Group has announced a net profit of $633 million for the first six months of this financial year.
The figure is a major turnaround from the $466 million recorded by the group, which owns Singapore Airlines (SIA) and regional carrier Silkair, between April and September 2009.
SIA made an operating profit of $380 million between April and June, compared to a loss of $428 million in the same period in 2009.
It carried 8,183,000 passengers during the period, an increase on the 8,003,000 carried between April and September 2009.
The airline also increased its passenger yield, which went up from 10 cents per passenger-km in the first half of 2009, to nearly 12 cents during the same period in 2010.
SIA took delivery of six A330-300 aircraft plus one A380-800 during the first half of the fiscal year, and decomissioned 10 Boeing 777s.
Regional subsidiary Silkair, wholly owned by Singapore Airlines, made an operating profit of $36 million in the first half of 2010, compared to a loss of $5 million in the same period of 2009.
Advance bookings for both SIA and Silkair over the coming months indicate that demand is holding up, said the Singapore Airlines Group.
A 5% rise in passenger capacity was predicted for SIA over the final six months of this financial year.
Singapore Airlines Group has warned, however, that due to high and volatile fuel prices, “the positive outlook for the second half of the year has to be tempered with some caution”.