SIA Engineering Company's group profit rises to $67.6m

The increase was driven by higher flight activities.

Despite incurring a $21.8m group operating loss, SIA Engineering Company (SIAEC) still saw its group profit rise to $67.6m in FY21/22.

In its latest financial report, SIAEC said profit rose by $78.8M during the period on the back of a 28% higher revenue due to higher flight activities. 

SIAC said wage support, through lower, also helped in pushing its profits higher.

Withotugh wage support, SIAEC said it would have incurred a net loss of $25.9m.

Across segments, SIAEC reported a loss of $12.7m in Engine and Component, and $9.1m in Airframe and Line Maintenance.

The loss, however, was lesser than the previous $25.0m reported in FY20/21.