Singapore Airlines enjoys cargo upswing in third quarter

Singapore Airlines has released traffic and financial performance details for the third quarter of its 2016-17 financial year – the period between October 1 and December 31 2016.
Its cargo division enjoyed a rise in freight volumes of 6.6%, boosted by stronger than expected peak season demand. SIA Cargo carried a total of 333,500 tonnes of cargo and mail during the three months.
Yield remained under pressure – down 5.2% year on year – but the cargo load factor improved despite a 5.1% year on year increase in capacity. The third quarter cargo load factor was up from 64.9% the previous year to reach 65.9%.
Moreover, SIA Cargo’s revenue over the quarter improved by S$8m (US$5.6m) year on year.
This represented a rise of 1.5% on the same quarter of the previous financial year.
As a whole, the SIA Group reported an operating profit of S$293m (US$206.7m) in the third quarter, up by 1.7% year on year.
Group revenue was down 2.5% year on year, however, to S$3,844 (US$2,711m).
Fleet renewal
During the quarter, SIA Cargo returned a single Boeing 747-400 freighter to its lessor.
As of December 31, SIA Cargo was operating a fleet of eight B747-400 freighters.
SIA took delivery of five Airbus A350-900 passenger aircraft, of which four had entered into service by the end of December.
As of December 31, it was flying a total of passenger aircraft (54 B777s, 26 A330-300s, 19 A380-800s and nine A350-900s).

Share this story

Related Topics

Latest airlines news

Salmon firm Mowi Chile signs up for LATAM’s ‘Fly Neutral’ programme

By Damian Brett

Salmon producer Mowi Chile has signed up to LATAM Cargo’s ‘Fly Neutral’ carbon emissions compensation programme as part of efforts…

Read More

Share this story

American Airlines Cargo hopes to benefit from transatlantic expansion

By Damian Brett

American Airlines Cargo is hoping to benefit from the addition of direct service from key cities in Europe to ten…

Read More

Share this story

K+N teams up with IAG Cargo on Saf flights

By Damian Brett

IAG Cargo and Kuehne+Nagel are partnering on the purchase of 8m litres of Sustainable Aviation Fuel (Saf) as they tackle…

Read More

Share this story