SIA's bookings to get boost from long-haul flights

Passenger load factor edged up 1.2ppt to 84.8 in September.

Singapore Airlines’ (SIA) flown revenue is expected to continue buoying the company’s growth, according to OCBC Investment Research. The company’s passenger bookings are expected to strengthen YoY, particularly from long-haul flights to the US.

An announcement last month revealed that the group’s passenger load factor (PLF) edged up 1.2 ppt to 84.8% in September.

However, concerns remain for its decline in cargo revenue, with its cargo load factor (CLF) falling 5.6 ppt to 59.5% over the same month.

Its rising expenditure may also drag its growth in the short term, with its plan to expand in capacity with 159 outstanding aircraft deliveries. However, this is expected to raise fuel efficiency by 26-30% and allow the group to operate into new markets like the long haul market.

SIA’s revenue grew 3.9% YoY to $4.2b in Q2, attributed to strong passenger traffic growth, but dragged by weak cargo revenue. Its profits soared 67.9% to $94m over the same period.

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