SIA posts 13.9% y-o-y passenger traffic growth in March operating update

SIA and Scoot posted monthly passenger load factors of 86.3% and 93.1%, respectively

Singapore Airlines C6L (SIA) group’s passenger traffic grew of 13.9% y-o-y for the month of March while passenger capacity expanded by 15.5% y-o-y.

The group’s passenger load factor decreased 1.3 percentage points (ppts) y-o-y to reach 87.7%.

SIA and Scoot posted monthly passenger load factors of 86.3% and 93.1%, respectively. The airlines carried a combined total of 3.3 million passengers during the month, up 20.7% y-o-y.

Cargo loads rose by 15.6% y-o-y, which was higher than the capacity expansion of 6.0%, on the back of of increased inventory flows by shippers as well as charters for various entertainment events. As a result, cargo load factor came in at a monthly high of 60.0% for FY2023/24 in March, 4.9ppts higher than a year before.

As at end-March, the group’s passenger network covered 118 destinations in 35 countries and territories. SIA served 73 destinations, while Scoot served 67 destinations. The cargo network comprised 123 destinations in 37 countries and territories.

Shares in SIA closed 12 cents lower or 1.86% down at $6.32 on April 15.

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