The Singapore Airlines (SIA) Group has reported an increase in passenger traffic and capacity for July 2024, according to its latest operating results.
Key points from the report include:
- Passenger traffic grew by 3.6% year-on-year
- Passenger capacity increased by 8.7% compared to July 2023
- SIA and Scoot carried 3.2 million passengers, up 6.7% from the previous year
- Group passenger load factor was 85.6%
SIA’s Chief Executive Officer said, “The Group’s passenger traffic continued to grow in July, reflecting the ongoing recovery in air travel demand.”
The airline group’s individual carriers performed as follows:
- SIA achieved a passenger load factor of 84.7%
- Scoot recorded a passenger load factor of 88.9%
However, SIA experienced lower load factors for East Asia routes despite robust passenger traffic growth, due to significant capacity expansion in North Asia.
Cargo operations also showed strong performance:
- Cargo loads increased by 18.5% year-on-year
- Cargo capacity expanded by 8.2%
- Cargo load factor reached 57.4%, up 5.0 percentage points from July 2023
The growth in cargo was attributed to robust e-commerce demand, some spillover from sea freight disruptions, and port congestion.
As of July 2024, the SIA Group’s network covered:
- 125 passenger destinations across 36 countries and territories
- 129 cargo destinations in 37 countries and territories
SIA served 78 destinations, while its subsidiary Scoot served 69 destinations.
The results indicate a continued recovery in air travel demand for the SIA Group, with both passenger and cargo operations showing growth compared to the previous year.
