Tuesday, April 1st, 2025

Singapore Airlines Achieves Strong Passenger and

Date of Report
17 September 2024

Broker
Maybank Research Pte. Ltd.


Passenger Capacity and Traffic Growth

In August 2024, Singapore Airlines (SIA) recorded a year-on-year (YoY) increase in passenger capacity of 10.8%, which outpaced the 7.7% YoY growth in passenger traffic. The Group’s overall passenger load factor (PLF) stood at 85.7%, reflecting a 2.5 percentage point decrease compared to the same period last year.

Performance by Airline

  • SIA: Achieved a PLF of 84.9%.
  • Scoot: Posted a higher PLF of 88.8%.

Together, SIA and Scoot carried a total of 3.3 million passengers in August 2024, marking a 9.4% YoY increase.

Cargo Operations Growth

Cargo loads for SIA grew by 20.9% YoY, driven by sustained demand from e-commerce and some spillover from disruptions in sea freight. Cargo capacity also expanded by 10.4% YoY. As a result, the cargo load factor improved to 56.1%, up by 4.9 percentage points YoY.

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