How Singapore Airlines soared while regional rival Cathay Pacific stalled

Just as Singapore Airlines was giving employees an eight-month salary bonus after record profits, Hong Kong was giving away more than 4,400 free tickets for regional rival Cathay Pacific as the city sought to encourage visitors to return.

Shares of Singapore Airlines have soared to their highest levels in more than three years after the national carrier made clear the strength of its post-pandemic recovery with an annual profit of S$2.16bn ($1.6bn) for the year ending in March.