SIA Engineering Group reports Q1 net profit

During the first quarter, SIA Engineering Group revenue for the first quarter of FY2022-23 increased 36.9% year-on-year to $171.5 million. The increase was largely driven by the increase in line maintenance revenue due to the higher number of flights handled. The pick-up in flight activities saw an increase in demand for base maintenance checks as more aircraft returned to service and flying activities increased. The company also reports improved demand for component and fleet management services, which are largely driven by flight activities. Expenditure increased at about the same rate to $175.5 million, mainly due to the reduction in government wage support.