SIA Engineering posted higher H1 22/23 profit due to flight recovery
The firm recorded $32.5m net profit in the first half of 2022/2023.
As flight activities rise, SIA Engineering registered a net profit of $32.5m in the first half of 2022/2023, higher from $25m net profit for the first half of 2021/2022.
Without wage support, SIA Engineering returned to profit.
However, its operating performance may have improved but it is not enough to mitigate reduction in wage support.
The count of flights managed in this period doubled year-on-year.
Flight recovery at the end of the first half of the said fiscal year was at 63.3% from 25.2 percentage points over the half-year period.