SIA Cargo has disappointing June

Singapore Airlines Cargo (SIA Cargo) saw its freight traffic fall in June compared with the same month of 2018.

Cargo traffic, as measured in freight tonne-km, fell by 2.4% year on year to 537.9m (in volume terms, cargo carried was down by 0.9% year on year to 99,800 tonnes).

Meanwhile, capacity rose by 1.6% to reach 937.9m available freight tonne-km.

As a consequence, the cargo load factor for June fell by 2.3 percentage points year on year to 57.4%.

All route regions covered by SIA Cargo registered declines in the cargo load factor except the Americas, which rose by 2.1 percentage points year on year.

In May, SIA announced that its flown cargo revenue increased by 2.1% in the 2018/19 financial year despite a “softening trade environment” and a lower fourth quarter.

The S$45m increase in overall revenues for the year came as stronger yields (+5.7%) was “more than sufficient” to offset a 3.5% fall in loads carried, as measured in tonne-km.

However, in the fourth quarter of the financial year, extending from 1 January to the end of March 2019, SIA’s cargo segment saw a $34m contraction, or 6.6%, in revenue.

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