SIA sees 7.2% air cargo revenue decline in Q1

Singapore Airlines Group saw cargo revenue decline 7.2% in the first quarter of the current financial year (April-June 2015), despite a slight increase in freight carried, due to a 7.6% fall in yield.
SIA Cargo recorded a first quarter loss of S$9m, compared with a S$18m deficit in the like three-month period in the last financial year.
The 7.6% reduction in cargo yield was” more than offset by the fall in expenditure, mainly from lower fuel costs” said the company.
“SIA Cargo’s freight carriage (in load tonne-km) was marginally higher by 0.4%, albeit lagging the 2.6% increase in capacity. Load factor fell 1.3 percentage points to 61.1%.”
The size of SIA Cargo’s fleet, comprising eight 747-400 freighters, remained unchanged in the first quarter.
In its outlook, SIA said: "Air cargo yields are unlikely to see an upturn as industry overcapacity persists. SIA Cargo will continue to manage capacity carefully, while actively pursuing opportunities in special product segments to stimulate yields."

Share this story

Related Topics

Latest asia news

MASKargo continues cargo charter flights in 2021

By Damian Brett

MASKargo has carried out its first cargo charter flight this year transporting approximately 20 tonnes of Covid-19 test kits. The…

Read More

Share this story

SpiceXpress launches domestic cargo tracking service

By Damian Brett

India-based carrier SpiceXpress has launched SpiceTag, a real-time tracking service for domestic cargo. The SpiceJet subsidiary said its tracking system…

Read More

Share this story

A321 freighter conversions to begin in China

The first A321 freighter conversion in China will soon be underway on behalf of launch customer Vallair. The work is…

Read More

Share this story