CEO Goh Choon Phong made the announcement at the firm's fourth quarter and full year earnings briefing on Friday.
The move comes as the carrier begins to undertake key initiatives to meet intense competition in the full service airline space.
SIA said it will release further details about the new cabin class in due time.
At the full year earnings briefing on Friday, the carrier reported a profit of S$27 million for its fiscal fourth quarter (January-March), which was down 60 percent from the same period a year ago.
For the full year-end March 31st, the airline carrier achieved a net profit of S$359.5 million, which was a 5.4 percent drop from the previous year.