Yahoo Finance SIA sees travel momentum continue with September performance
SIA reported a promising set of numbers for its September operating results.
Singapore Airlines (SIA) Group reported a promising set of numbers for its September operating results, as the group saw continued momentum in travel recovery with demand remaining strong across all route regions except for East Asia where travel restrictions remained in place in some key markets.
SIA and Scoot, the two airlines in the group, carried a total of 2.1 million passengers in
September, up 2.5% from the previous month. This came on the back of a marginal m-o-m decline of 0.8% in group passenger capacity, measured in available seat-kilometres, which was still up 111.8% y-o-y, reaching 67% of pre-Covid-19 levels for the month.
The group passenger load factor (PLF) came in 1.6 percentage points (ppt) higher on a m-o-m basis at 87.0% in September and 68.5 ppt higher on a y-o-y basis.
Meanwhile, cargo operations registered a load factor of 56.4%, or 31.0 ppt lower y-o-y. Loads (freight tonne-kilometres) declined by 14.0% y-o-y, while capacity (capacity tonne-kilometres) expanded by 33.3% as increased passenger services resulted in higher bellyhold capacity.
At the end of September 2022, the group’s passenger network covered 100 destinations.
There was a step-up in passenger services to East Asia during the month with SIA reinstating services from Beijing while Scoot resumed services to and from Fuzhou and Osaka. SIA served 74 destinations, while Scoot served 48 destinations. The cargo network comprised 107 destinations.
Shares in SIA closed 4 cents or 0.79% down at $5.00 on Oct 17.
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