In its operational figures for December 2022, the Singapore Airlines Group (SIA) reported that it handled about 12% more passengers than a month earlier and four times as many as a year earlier.
In December, 2.7 million people travelled on its two airlines, SIA and Scoot. It handled 20.7 million passengers overall during the year, an increase of 900% from 2021. The airline attributed the increase in demand for air travel and the support of a recovery in those markets to the easing of travel restrictions in Taiwan, Japan, and Hong Kong.
Despite being remarkable, the passenger counts are still only 76% of the 3.54 million passengers handled in December 2019. In December 2022, SIA’s passenger load factor (PLF) was 89.7%, up 3.8 percentage points from the previous month and 43.2 percentage points from the previous year. The full-service carrier, SIA, and low-cost airline, Scoot, both set record monthly PLFs of 89.1 percent and 91.6 percent, respectively, according to the airline, making it the greatest monthly PLF in SIA’s history. The PLF in December 2019 was 87.6%.
It should be emphasized, nevertheless, that PLF depends on how many aircraft an airline has in operation. Some airlines underutilized their aircraft at this period of global capacity crisis, either to maintain high prices or because they lack the wherewithal to utilize their fleet to its fullest.
Between its two primary airline brands, SIA currently has 36 inactive aircraft, according to fleet statistics from ch-aviation.com. There are 15 Boeing 777ERs, two Airbus A350s, two A380s, and two Boeing 787-8s among the aircraft parked on the ground. Airlines in Northeast Asia are anticipated to increase capacity in the air due to increased competition in the next year and China’s reopening from COVID-19 lockdowns, which would cause supply to put pressure on pricing. To compete for market share, SIA is anticipated to take the same action.
Prior to SIA’s weekly passenger services from Singapore to Beijing beginning on December 30, 2022, Scoot commenced flights to Zhengzhou, China, in December 2022. SIA has been increasing its capacity in India, a significant market, since the middle of last year while the China market is still slowly recovering.
SIA has already started operating flights to the South Asian cities of Bengaluru, Chennai, Delhi, Dubai, Hyderabad, Kathmandu, Kochi, Kolkata, and Mumbai at frequencies that are equal to or higher than pre-C levels. Late last year, SIA pledged to keep investing in the sector, underscoring the strategic significance of the Indian market to the company.
01/02/23 Tejashree/Inventiva
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