SIA Group’s passenger traffic up 8.3% in November

PASSENGER traffic for the two carriers under the Singapore Airlines (SIA) Group was 8.3 per cent higher in November 2024 compared with the same period a year ago, according to the company’s latest operating update released on Monday (Dec 16).

Passenger traffic, which measures the demand for an airline’s service and is derived by multiplying the number of paying passengers by the distance they have travelled, came in at 12.9 billion for the month, compared with 11.9 billion a year ago.

Passenger capacity, which is measured by multiplying the number of seats available on a flight by the distance flown, grew 9.3 per cent to 14.9 billion from 13.6 billion in the corresponding period a year earlier.

The group’s passenger load factor came in at 87 per cent for the month, 0.8 percentage point lower than a year ago. It reflects the available seating capacity filled with passengers, and is a crucial measure of how efficiently an airline is filling its seats.

Both the national carrier SIA and the budget airline Scoot carried a total of 3.3 million passengers throughout the month, a 7.5 per cent increase from the same period a year ago.

As for its cargo load, it rose 10.3 per cent year on year, supported by an increase in freighter charters.

Cargo capacity expanded by 12.8 per cent from a year ago due to higher utilisation of freighter aircraft and higher bellyhold capacity from increased passenger services.

As a result, the cargo load factor decreased by 1.3 percentage points to 56.6 per cent.

Shares of SIA declined 0.2 per cent or S$0.01, to close at S$6.41 on Monday.

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