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Singapore Airlines Group sees strong passenger traffic and load factors in March 2024

written by Newsdesk | April 16, 2024

A Singapore Airlines Boeing 777-200 at the Brisbane Airport international terminal. (Brisbane Airport)
A Singapore Airlines Boeing 777-200 at the Brisbane Airport international terminal. (Brisbane Airport)

The Singapore Airlines (SIA) Group has reported strong passenger traffic and load factors across all route regions in March 2024. The Group’s passenger traffic grew by 13.9% compared to the previous year, while capacity increased by 15.5%.

The Group’s passenger load factor (PLF) reached 87.7%, with SIA and its low-cost subsidiary Scoot posting monthly PLFs of 86.3% and 93.1%, respectively. Together, the two airlines carried just under 3.3 million passengers during the month, a 20.7% increase from the previous year.

Cargo loads also saw a significant increase, rising by 15.6% year-on-year to their highest monthly level in Financial Year 2023/24 (FY2023/24). This growth was driven by increased inventory flows by shippers and charters for various entertainment events, outpacing the capacity expansion of 6.0% for the same period. As a result, the cargo load factor reached a monthly high of 60.0% for FY2023/24, 4.9 percentage points higher than the previous year.

As of March 2024, the SIA Group’s passenger network covered 118 destinations in 35 countries and territories, with SIA serving 73 destinations and Scoot serving 67 destinations. The Group’s cargo network comprised 123 destinations in 37 countries and territories.

Singapore Airlines continues to invest in new products and services to provide additional benefits to customers worldwide. The lifestyle rewards app Kris+ allows KrisFlyer members to earn and burn their KrisFlyer miles on non-air offerings, including transport, dining, entertainment, and more. For the first time outside of Singapore, KrisFlyer members can now earn and redeem miles at a range of outlets in Sydney and Melbourne using Kris+. To date, Kris+ provides KrisFlyer members with access to discounts and benefits in 16 countries, at over 3,500 outlets.

Additionally, the travel experiences platform Pelago offers customers the opportunity to discover curated and unique on-ground activities in Singapore and beyond. With more than 1,700 experiences available to book, travelers to various destinations across the SIA network, including Australia, can earn or redeem KrisFlyer miles across a wide range of diverse and inspiring tours, attractions, and events.


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