BRIEF-Singapore Airlines Posts Qtrly Net Profit S$734 Million

July 27 (Reuters) - Singapore Airlines:

* QTRLY NET PROFIT S$734 MILLION VERSUS S$370 MILLION

* QTRLY OPERATING PROFIT S$755 MILLION VERSUS S$556 MILLION

* IN Q1, SCOOT EXPANDED ITS FOOTPRINT IN CHINA WITH RESUMPTION OF SERVICES TO SEVEN DESTINATIONS

* QTRLY TOTAL REVENUE S$4,479 MILLION VERSUS S$3,928 MILLION

* DEMAND FOR AIR TRAVEL IS EXPECTED TO REMAIN ROBUST FOR ALL ROUTE REGIONS THROUGH THE SUMMER PEAK

* SIA WILL RESUME FOUR-TIMES WEEKLY SERVICES TO BUSAN FROM 28 AUGUST

* CARGO DEMAND IS EXPECTED TO REMAIN SOFT IN NEAR TERM DUE TO INFLATION AND WEAK ECONOMIC CONDITIONS

* FORWARD PASSENGER BOOKINGS CLOSELY TRACKING CAPACITY INJECTION ACROSS MOST MARKETS OVER NEXT THREE MONTHS

* SCOOT RESUMED FLIGHTS TO JINAN AND SHENZHEN IN CHINA IN JULY

* SIA GROUP IS WELL POSITIONED EVEN AS COMPETITION EXPECTED TO INTENSIFY IN COMING MONTHS

* SUBJECT TO REGULATORY APPROVALS, SIA AND SCOOT WILL RESTRUCTURE THEIR BENGALURU, CHENNAI AND HYDERABAD SERVICES FROM 29 OCTOBER

* INVENTORY OVERHANG AND THE EASING OF SUPPLY CHAIN CONSTRAINTS HAVE ALSO RESULTED IN A MODAL SHIFT TOWARDS SEA FREIGHT

* WORK CONTINUES ON PROPOSED MERGER OF AIR INDIA AND VISTARA

* SIA GROUP'S CAPACITY REMAINS ON TRACK TO REACH AN AVERAGE OF AROUND 90% OF PRE-COVID6 LEVELS BY MARCH 2024

* REMAINING HEDGE POSITIONS FROM Q2 OF FY2023/24 ONWARDS ARE AT PRICES CLOSER TO PREVAILING MARKET LEVELS

* MACROECONOMIC AND GEOPOLITICAL UNCERTAINTIES, AS WELL AS INFLATION, COULD POSE CHALLENGES FOR THE AIRLINE INDUSTRY

* FROM 29 OCT, SIA GROUP WILL INCREASE SERVICES BETWEEN SINGAPORE AND CHENNAI FROM 17-TIMES WEEKLY TO 21-TIMES WEEKLY

* ADDED FOUR AIRCRAFT TO ITS OPERATING FLEET IN Q1 Source text for Eikon: Further company coverage: