Yahoo Finance SIA and Scoot passenger count up 6.2% m-o-m in October, capacity at 71% of pre-Covid-19 levels
Earlier this month, SIA reported five record figures among its 1HFY2023 ended September earnings.
The Singapore Airlines (SIA) Group flew a total of 2.3 million passengers in October, up 6.2% m-o-m, with passenger capacity up by 4.9%.
Group capacity increased 109.7% y-o-y, reaching 71% of pre-Covid-19 levels, or January 2020.
“In October 2022, the SIA Group continued to see strong travel demand, boosted by the Australia and New Zealand spring school break, and the relaxation of travel restrictions to Hong Kong, Japan, and Taiwan,” says the flag carrier in its operating results released Nov 15.
The Group’s passenger load factor came in at 86.4% in October, marginally lower by 0.6 percentage points (ppts) m-o-m but 66.5 ppts higher y-o-y.
Cargo operations registered a load factor of 52.6%, or 34.6 ppts lower y-o-y.
Loads (freight tonne-kilometres) declined 19.8% y-o-y, while capacity (capacity tonne-kilometres) expanded 32.9% as increased passenger services resulted in higher bellyhold capacity, says SIA.
At the end of October, the Group’s passenger network covered 109 destinations, Singapore included.
SIA resumed flights to Chengdu and Xiamen, while Scoot re-introduced flights to several points in Indonesia (Lombok, Makassar, Pekanbaru and Yogyakarta) and mainland China (Hangzhou, Wuhan and Zhengzhou).
SIA served 76 destinations, while Scoot served 55 destinations. The cargo network comprised 115 destinations.
Earlier this month, SIA reported five record figures among its 1HFY2023 ended September earnings. They are: a record half-yearly operating profit of $1.23 billion, record quarterly operating profit of $678 million, record quarterly passenger load factor of 86.6%, record quarterly revenue per available seat km of 10.3 cents, and record quarterly group revenue of $4.5 billion.
Earnings for 1HFY2023 also came in at $927 million, a reversal from the $837 million loss suffered a year ago. For 2QFY2023, SIA recorded earnings of $556.5 million, a 50.5% improvement over 1QFY2023. Revenue for the half-year reached $8.42 billion, up 197.7% y-o-y.
“This performance validates all the preparation undertaken by the group to emerge stronger from the Covid-19 crisis,” said SIA’s executive vice president for finance and strategy, Tan Kai Ping, at the results briefing on Nov 7.
Shares in SIA closed 2 cents higher, or 0.37% up, at $5.47 on Nov 15.
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