Singapore Airlines generated a net profit of S$893 million (US$664 million) for the financial year from April 1, 2017 to March 31, 2018, a year-on-year increase of 148.1%, according to full-year results released by the company.

Group operating profit also rose by 69.7% to S$1.06 billion (US$786 million).

Revenue for Singapore Airlines Cargo was up S$266 million, while operating profit increased by more than 4800% to S$148 million (US$110 million).

SIA Cargo carried 1.3 million tonnes of cargo of mail, 4.3% more than the 2016-2017 financial year. Capacity went up by 2.0%, while the load factor increased by 2.1 percentage points to 65.3%. Yield grew by 8.9%.

The cargo fleet stands at seven Boeing 747-400Fs and is expected to remain unchanged for 2018-2019. The carrier expects cargo capacity to grow by 6%.

SIA Cargo will continue to pursue charter opportunities and deploy capacity to match demand, according to Singapore Airlines.