• 

  Singapore Airlines

  IATA/ICAO Code:

  SQ/SIA

  Airline Type:

  Full Service Carrier

  Hub(s):

  Singapore Changi Airport

  Year Founded:

  1972

  Alliance:

  Star Alliance

  CEO:

  Goh Choon Phong

  Country:

  Singapore

In the space of 12 months, Singapore Airlines has more than doubled its monthly available seat kilometers and increased the number of passengers it is flying by more than ten-fold. The airline has just released its April 2022 traffic figures, and the numbers tell a story of an airline on the rebound. In April 2022, Singapore Airlines carried 1,146,200 passengers compared to just 95,900 in April 2021.

Singapore Airlines is roaring back to life

Including low-cost subsidiary Scoot, the passenger load factor for the month for the Singapore Airlines Group was 72.7%, the highest since the onset of the pandemic. This was an improvement of 18.2% month-on-month or 59% points year-on-year. Passenger loads improved across all route regions for both airlines. In a statement, the airline noted,

"The demand for air travel increased significantly in April 2022. Singapore removed all Vaccinated Travel Lane arrangements from April 1, 2022, and allowed fully vaccinated travelers to enter Singapore quarantine-free and without on-arrival COVID-19 tests. From April 26, 2022, Singapore also removed the pre-departure COVID-19 test requirement. Many key markets for the SIA Group also further relaxed their border control measures."

On all metrics, Singapore Airlines' passenger operations are in ascendancy. Last April, there were 3,398,300 available seat kilometers (ASKs) on Singapore Airlines flights. This April, the ASK figure was 7,384,600. Revenue passenger kilometers flown increased from 488,800 last April to 5,716,200 this April. Load factors increased from 14.4% last April to 77.4% this April.

A lack of capacity in Singapore is helping Singapore Airlines out

In the 12 months to April 30, 2022, load factors on flights to all parts of the world served by Singapore Airlines increased at least four-fold and to many regions, by more. As of April 30, 2022, Singapore Airlines served 71 destinations, while Scoot served 45 destinations. On April 30, 2021, Singapore Airlines flew to 49 destinations, and Scoot was serving 19 destinations. Over the course of April 2022, Singapore Airlines resumed operations to Davao and Cebu, while Scoot restored flights to Hat Yai and Kota Kinabalu.

So what's driving this growth? There are two obvious factors - Singapore lifting its COVID-related entry restrictions and the pent-up demand for travel. But there's another factor lurking under the radar. Singapore is hugely popular right now - a function of both aforementioned points, but other than Singapore Airlines, not many airlines are flying in, and those that do are still running far fewer flights than they did pre-pandemic.

But there's soaring business demand for flights in and out of Singapore and strong outbound leisure demand from Singapore. Demand is strong across all cabin classes, including premium cabins, and that's putting upward pressure on fares - good for Singapore Airlines but not so great for travelers.

Other airlines still haven't restored their pre-pandemic Singapore capacity

Are you looking to fly between Singapore and the US right now? You don't have a lot of choices other than Singapore Airlines. Out of the Middle East and Europe, Emirates used to fly into Singapore four times a day, but they've cut back to daily flights. Qatar Airways has reduced its Singapore-bound flights from 21 a week to ten a week.

Swiss International has reduced its daily flights from Zurich to three times a week. Lufthansa has swapped out its A380 Singapore services for the smaller Airbus A340. British Airways has swapped out its pre-pandemic daily Boeing 777 and Airbus A380 flights for a single daily Dreamliner service that now goes on to Sydney.

And speaking of Sydney, Qantas is back in Singapore, but also with reduced services and smaller planes. That airline isn't sending their A380s back into the southeast Asian hub until next month. All up, it's a situation of passenger demand exceeding supply when it comes to Singapore - and that's a key reason why Singapore Airlines is suddenly flying high.