Even SilkAir made disappointing results.
According to OCBC, Singapore Airlines continues to experience tepid demand for its premium services despite the continuation of its promotional fare strategy.
The firm also added that while the drop-off from the seasonal year-end peak was expected, the rate of its PLF decline from Dec was disappointing with capacity growth outstripping passenger demand.
"The Group’s parent airline saw PLF decline 3.9ppt to 78.3% for Jan (+1.3ppt from a year ago) while SilkAir’s PLF slide was more pronounced at 9.6ppt to 67.5% (-8.7ppt from a year ago)," OCBC said.
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