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Singapore Airlines Load Factor Down 3.1% In Sep.

Wed Oct 16, 2002 12:40 am

Singapore Airlines reported a 3.1% fall in overall load factors for September 2002 compared with September 2000. Compared with September 2001, overall load factor rose 3%.

Passenger capacity rose 6.8% compared to September 2000 and 2.3% compared to September 2001.
Revenue passenger kilometres increased 0.5% compared to September 2000 and 6.2% compared to September 2001.
Approximately 1 264 000 passengers were carried in September, 1.25% less than was carried in September 2000 and 2.5% higher than September 2001.
Passenger load factor was 75.9% which was 4.8% lower than in September 2000 and 2.8% higher than in September 2001.

Singapore Airlines Cargo capacity rose 12.8% compared to September 2000 and 12.8% compared to September 2001.
Revenue freight tonne kilometres increased by 10% compared to September 2000 and rose 17.5% compared to September 2001.
87 300 000 kilograms of cargo was carried - a 2.1% increase compared to September 2000 and 9.9% more than that was carried in September 2001.
Cargo load factor was 70.6%, 1.5% lower than in September 2000 and 2.8% higher than in September 2001.

Source: Singapore Airlines Limited.

"It's a low base effect and we are going to see that in October as well," said Michelle Lee - analyst at J.M. Sassoon

Merril Lynch estimates that Indonesia accounts for between 1% to 3% of Singapore Airlines' revenue and keeps a buy on SIA stock.

Singapore Airlines said the terrorist atrocity on Bali has caused some bookings to be cancelled, but not enough to cancel any flights to DPS.

Source: Reuters / Dow Jones / Yahoo Finance
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