Tailwinds continue to push SIA’s operating results for September

MOMENTUM in travel recovery has been the tailwind for Singapore Airlines’ (SIA) September 2022 operating results, as SIA and Scoot carried 2.1 million passengers for the month. Demand remains strong across all routes except East Asia as travel restrictions remain in place in key markets.

That was a 2.5 per cent increase in passenger capacity from the previous month, as group passenger capacity jumped 111.8 per cent from the previous year. This is about 67 per cent of pre-Covid-19 levels for September.

Across all markets, passenger load factor (PLF) have improved at both SIA and Scoot, with the group level PLF at 87 per cent for September. This is a 1.6 percentage point increase month on month and a 68.5 percentage points increase from the year prior.

With increased passenger services resulting in higher bellyhold capacity, cargo operations have seen capacity expand by 33.3 per cent. However, cargo operations have seen a 31 percentage point fall y-o-y to 56.4 per cent for September’s load factor, while loads have declined 14 per cent y-o-y.

In September, SIA stepped-up services to East Asia, reinstating services from Beijing, while Scoot resumed flying to Fuzhou and Osaka. SIA served 74 destinations and Scoot 48 destination in September, while the cargo network comprises of 107 destinations.

Shares of SIA closed down S$0.04 or 0.8 per cent to S$5.00 on Monday.