Yahoo Finance SIA Group’s PLF reaches monthly record of 90.6% due to ‘robust demand’ during mid-year holidays and summer travel season
At the end of June, the group’s passenger network covered 116 destinations in 36 countries and territories.
The Singapore Airlines (SIA) Group saw passenger traffic grow by 34.8% y-o-y in June, outpacing the capacity expansion of 27.2% compared to a year ago.
As a result, the group’s passenger load factor (PLF) increased by 5.1 percentage points y-o-y to reach 90.6%, a monthly record. The strong figures were attributable to the “robust demand” for air travel on the back of the mid-year school holidays and the beginning of the summer travel season.
Flag carrier SIA and budget carrier Scoot reported monthly PLFs of 89.7% and 93.6% respectively. Both airlines carried a total of 2.9 million passengers in June, which is up by 50.4% y-o-y.
During the month, cargo operations fell by 13.0 percentage points y-o-y to a load factor of 51.6%. Cargo loads fell by 14.9% y-o-y due to weaker demand while capacity expanded by 6.6% as increased passenger services resulted in a higher bellyhold capacity.
At the same time, Scoot resumed its services to the Chinese cities of Changsha and Wuhan.
At the end of June, the group’s passenger network covered 116 destinations in 36 countries and territories. SIA served 74 destinations while Scoot served 65 destinations. The cargo network comprised 121 destinations in 38 countries and territories.
Shares in SIA closed 1 cent higher or 0.14% up at $7.42 on July 17.
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