(not an article)
Singapore Airlines Limited announced a sharp increase in overall load factor in March, surprising many investors.
The overall load factor rose to 76% from 71.1% a year ago.
The solid performance will rescue Singapore Airlines Limited from incurring a FY loss. This is the third consecutive month that load factors have increased.
"That's really a surprise. The scale of the jump is well beyond what many people had expected, me included," said John Casey, a Singapore-based regional airline analyst at DBS Vickers Securities. Most has thought the figures would be similar to February.
Passenger load factor was at 81.6% in March from 75% last March. February's (which actually included Chinese New Year) was lower at 77.6%. Cargo load factor increased from 68.3% to 72.4% and 69.6% in February.
This is excellent news. This is great news that SIA is posting such strong passenger figures. Not only do these show that Singapore Airlines' strong management has lead to better capacity arrangement and fares, it shows that the airline industry itself it coming back up.
Now that the Financial Year at Singapore Airlines Limited has ended, the airline can now invest more into improving passenger amenities and service. More information later...