SIA Cargo achieves massive turnaround

SIA Cargo, the freight arm of Singapore Airlines, has successfully turned the tables on its 2016-17 first-half loss of S$45m, posting an operating profit of S$32m for the same period of the 2017-18 financial year.
The carrier attributed the result to higher volumes (up 6.1% year on year) as well as improved yield (up 6.7% year on year), particularly on the back of improved trade conditions in the second quarter. The cargo load factor increased by 3.2 percentage points over the first half of 2016, to 64.8%.
At the same time, SIA Cargo noted that outgoings were also higher, “partly due to higher handling costs from increased carriage and higher aircraft maintenance and overhaul costs”.
A statement said: “Headwinds remain as competitors mount significant capacity in key markets. Yields continue to be under pressure, despite some stabilisation in recent months,” and fuel prices are expected to remain volatile.
Read more freighter operator news

Share this story

Related Topics

Latest asia news

Teleport targets China e-commerce air cargo

Teleport aims to further build up its e-commerce air cargo business between China and southeast Asia with next-day services. The…

Read More

Share this story

Cargo up at Cathay Pacific as it closes in on pre-Covid levels

Cathay Pacific saw its cargo volumes increase again in May as the carrier continued to narrow the gap on 2019…

Read More

Share this story

time:matters expands airfreight express in Shanghai

German time critical logistics company time:matters will this month open a courier terminal at Shanghai Pudong International Airport for handling…

Read More

Share this story

Air Cargo News

Air Cargo News
Established in 1983, Air Cargo News is the leading source of news, information, interviews, analyses and reports to the global airfreight industry. Our leading portfolio includes print, digital and events that give businesses in the airfreight industry the ability to connect with decision-makers in this sector.