Singapore Airlines' passenger load factor up by 6.3%

As SIA’s core operations gain momentum, their cargo freight capacity dips by 2.6%.

SIA’s PLF rose significantly to 79.5%, from 73.2% in Mar 2011. Meanwhile, SilkAir’s passenger traffic gained a strong 20% YoY and its passenger capacity grew 19.1% YoY.

Here's more from OCBC Investment Research:

Singapore Airlines reported its Mar 2012 operating statistics and the parent airline’s passenger load factor gained YoY for the second month in a row. SIA’s PLF rose significantly to 79.5%, from 73.2% in Mar 2011.

While it is encouraging to see the recovery of SIA’s core operations gaining momentum, it is worth noting that air travel in Mar 2011 was hit by an earthquake in Japan. Elsewhere, SilkAir’s passenger traffic again gained a strong 20% YoY and its passenger capacity grew 19.1% YoY. As a result, SilkAir’s PLF edged 50bps higher YoY to 75.5%. SIA Cargo’s freight capacity shrank 2.6% YoY while its freight traffic dipped 1.9% YoY. Consequently, SIA Cargo’s freight load factor also gained 50bps YoY to 65%.

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