SIA Group’s July passenger traffic grows 2.6% amid growing passenger capacity
Cargo loads have been stable year on year, even with reduced freighter aircraft activity
In July, the Singapore Airlines (SIA) Group experienced a 2.6 percent increase in passenger traffic, reaching a total of 3.7 million passengers, up 4 percent from the previous year. Passenger capacity expanded by 5.5 percent, primarily due to the airline's network growth in East Asia, Europe, and the south-west Pacific. This expansion led to a passenger load factor (PLF) of 86 percent.
SIA and Scoot, the group's low-cost carrier, reported monthly PLFs of 84.8 percent and 90.2 percent, respectively. The July figures came after SIA Group reported record revenue of S$5.7 billion and a record 10.9 million passengers carried in its first quarter. However, the group suffered a net loss of S$76 million due to higher fuel costs from the Middle East conflict and increased losses from Air India.
Despite the challenging operating environment, experts believe that passenger demand is holding up well. In terms of cargo, SIA's demand strengthened in July, with stable year-on-year cargo loads and an 0.8 percentage point increase in the cargo load factor to 57.9 percent. Scoot suspended services to Jeddah, Saudi Arabia, while SIA's services to Dubai, UAE, remained suspended.
As of July, the SIA Group's passenger network operated in 136 destinations across 35 countries and territories, with 78 destinations for SIA and 84 for Scoot. The carrier's cargo network served 139 destinations in 36 countries and territories.
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