Singapore Airlines warns of trade headwinds despite record annual profit

Carrier flags demand risks as operating profit fell 37% on rising costs, lower yields

20250515 Singapore Air

Singapore Airlines planes sit on the tarmac at Changi Airport in Singapore. © Reuters

TSUBASA SURUGA

SINGAPORE -- Singapore Airlines (SIA) has warned that escalating trade tensions and broader global uncertainties pose risks to travel and cargo demand in the year ahead, following a record net profit for the fiscal year ended March.

Speaking at an earnings briefing on Friday, CEO Goh Choon Phong pointed to U.S. tariff disputes as a new area of concern. These developments, the company said, may erode consumer and business confidence, "potentially impacting both passenger and cargo markets."

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