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Singapore Airlines Group reports growth in February 2024

written by Newsdesk | March 18, 2024
Singapore Airlines Group reports growth in February 2024
Singapore Airlines A380 at Sydney Airport. (Source: Australian Aviation archives).

The Singapore Airlines (SIA) Group has announced an increase in its passenger traffic and cargo carriage for February 2024, a period positively affected by the Lunar New Year holidays observed across Asia. According to the Group’s latest data, there was a 20.4% rise in passenger traffic compared to the corresponding month in the previous year. This growth aligns with a 20.7% boost in capacity. Consequently, the Group’s passenger load factor (PLF) was recorded at 86.3%, with its subsidiary airlines SIA and Scoot achieving PLFs of 84.5% and 92.6%, respectively.

In addition, the Group highlighted that it had served around 3.1 million passengers during February, which indicates a 28.2% increase from the year before. This performance is a marker of the Group’s ongoing recovery and its importance in providing connectivity across regions. On the cargo front, there was a reported 12.9% year-on-year growth in cargo carriage, thanks in part to stronger e-commerce flows. This growth overshadows the capacity expansion of 7.4%, leading to a cargo load factor of 56.7%, a 2.7 percentage point increase.

As for the network, by February 2024, the SIA Group had expanded its passenger network to cover 121 destinations across 35 countries and territories, with SIA flying to 76 destinations and Scoot to 67. The cargo network reached 126 destinations in 37 countries and territories, underscoring the Group’s extensive global connectivity.

The report also touched on the Group’s efforts to enhance customer experiences. For instance, Kris+, a lifestyle rewards app, was introduced, allowing KrisFlyer members to use their miles on a range of non-air offerings, including transport, dining, and entertainment options. Similarly, Pelago, the Group’s travel experiences platform, offers customers the option to explore over 1,700 activities and attractions within the SIA network, highlighting the Group’s initiative to provide broad travel solutions.

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