Singapore Air Shakes Off Pressures to Land Record Profit (1)

Singapore Airlines Ltd. said near-term demand for flights remains healthy as robust appetite for travel delivered a record full-year profit that even beat estimates despite a marginally weaker fourth quarter.

Net income climbed 24% to S$2.67 billion ($1.98 billion) for the 12 months ended March 31 versus a year earlier, the airline said in a filing Wednesday, besting forecasts for S$2.59 billion. Fourth-quarter net slipped slightly to S$575 million. Revenue for the full year rose 7% to S$19.01 billion.

The city-state’s flag carrier had warned in February that a cocktail of renewed competitive pressures, higher costs, geopolitical tensions and economic ...