Photo: AFP/dpa/Boris Roessler
Eurasia
09/11/2023 14:07
"The robust demand for air travel continued into the Northern Summer travel season, led by the rebound in passenger traffic to North Asia with the full reopening of China, Hong Kong SAR, Japan, and Taiwan," the airline said in a statement.
It also recorded a S$413 million decrease in costs associated with fuel for the six-month period but flagged concerns around a spike in prices due to supply risks in the oil market.
Singapore Airlines and its budget arm, Scoot, carried around 17.4 million passengers during the half-year, an increase of 52.3% year-on-year.
The group expects to return to pre-Covid passenger capacity levels within fiscal 2024-2025, it added.
The firm also intends to redeem 50% of the zero-coupon mandatory convertible bonds (MCBs) that it issued in June 2021 to support its balance sheet amid an almost total shutdown of air travel during the pandemic.
Singapore Airlines posted a record half-year profit after it saw strong demand as numerous countries fully reopened after the global health crisis. The airline expects to return to pre-health crisis passenger capacity levels within fiscal year 2024-2025 https://t.co/4aUZGH6q3K pic.twitter.com/yjAR4CciRe
— Reuters Asia (@ReutersAsia) November 7, 2023
China's Ministry of Commerce said Friday that dialogue and cooperation are the right path forward, in response to the U.S. lifting of a series of economic and trade restrictions on China, according to Xinhua.
Mongolia has reached a critical juncture and is undergoing a process of foreign policy modernization. The burgeoning relations between Ulaanbaatar and Central Asian states signifies a strategic initiative aimed at balancing its partnerships with Russia and China. Since 2020, Mongolia has augmented its diplomatic activities with Central Asian countries, as evidenced by the Mongolian President's visit to Uzbekistan and Kazakhstan in 2024. Notwithstanding the prevailing positive development dynamics, economic relations between Mongolia and Central Asia remain modest but growing, particularly in trade with Kazakhstan, Kyrgyzstan, and Uzbekistan, where exports have increased significantly.
Sri Lanka is the only country in the Asia region currently engaged in discussions with US officials to renegotiate tariffs imposed under US President Donald Trump’s administration, according to deputy economic minister.