The company posted a net profit of S$556.5 million ($393.20 million) for the three months ended Sept. 30, compared with a S$427.6 million loss in the prior year. It also declared a dividend of 10 Singapore cents per share, their first since November 2019.

CGS-CIMB analyst Raymond Yap had expected second-quarter earnings to be higher than the S$370 million profit reported in the first quarter as the airline continued to add capacity.

($1 = 1.4153 Singapore dollars)

(Reporting by Sameer Manekar in Bengaluru and Jamie Freed in Sydney; Editing by Shailesh Kuber)