Singapore Airlines Cargo has tough October

Singapore Airlines Cargo saw its freight volumes and traffic fall in October, alongside a decline in the cargo load factor.

Freight carried fell year on year by 6.8% in October to 107,900 tonnes. Meanwhile, traffic was down by 10.3% year on year to 570.2m cargo tonne-km.

With capacity down by just 1.4%, to 922.2m tonne-km, the cargo load factor fell by 6.2 percentage points to 61.8%.

The load factor fell most dramatically on South-west Pacific traffic, down by 9.4 percentage points. No market saw a year on year improvement in the cargo load factor in October.

October’s performance continues a period of tough market conditions for the freight carrier.

Earlier this month (November), Singapore Airlines revealed that it had carried 616,300 tonnes of cargo in the first half of its 2019-20 financial year (the six months ending 30 September), down by 5.2% over the same period of 2018-19.

The cargo load factor fell by 4.1 percentage points to 58.4% over the period on a year by year comparison.

According to the Changi-based carrier, SIA Cargo “will continue to pursue charter opportunities and deploy capacity to match demand”.

Its freighter network currently takes in 19 cities (including Singapore).

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