SIA Group passenger traffic up 7.4% YoY, and cargo loads rise 20.2% in Oct 2024

SINGAPORE: Singapore Airlines (SIA) Group’s October 2024 passenger traffic rose 7.4% year-on-year (YoY).

Its revenue passenger-kilometres (RPK), the number of passengers carried multiplied by the distance flown, also rose to 12.9 billion, up from 12 billion in October 2023, according to its operating update released on Nov 15.

In October, SIA and its budget carrier Scoot flew 3.3 million passengers, a 7% increase compared to the same month last year.

Passenger capacity grew by 9.2% during the period, as reported by The Business Times.

The group’s passenger load factor stood at 86%, down 1.4 percentage points compared to the same period last year. SIA’s load factor for the month was 86.1%, while Scoot’s stood at 85.4%.

SIA said cargo loads increased by 20.2% in October, supported by higher shipments during the peak season and additional freighter charters.

Cargo capacity also increased by 14.3% YoY. This pushed the group’s cargo load factor up by three percentage points to 59.1%.

In October, Scoot expanded its regional reach by launching flights to Malacca, Malaysia. Meanwhile, services to Ningbo, China, were suspended following a routine review and optimisation of its network.

At the end of October, the SIA Group’s passenger network included 127 destinations across 36 countries and territories. SIA served 78 destinations, while Scoot operated flights to 71.

The group’s cargo network covered 131 destinations across 37 countries and territories. /TISG

Read also: SIA reports 48.5% YoY drop in earnings to S$742 million due to weaker operating performance

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