SIA’s share price recently touched a 52-week high of S$5.58 and is up 10.4% year to date

Passenger numbers on all of SIA’s flights have exceeded two million from July to October this year, and are almost four times higher than the 535,200 logged in January.

The airline also reported the strongest operating profit in its history of S$1.2 billion when it released its fiscal 2023’s first half (1H2023) earnings.

Shareholders were also pleasantly surprised to learn that the group had resumed paying out dividends with the payment of a S$0.10 per share interim dividend.

What’s more, SIA has also generated enough cash to redeem the first tranche of mandatory convertible bonds that were issued near the peak of the COVID-19 lockdowns.

Elsewhere, China is also finally relaxing its COVID-zero policy. It’s useful to note that mainland China saw the highest level of tourism receipts among all of Singapore’s tourism markets in the fourth quarter of 2019.