Singapore flag carrier Singapore Airlines (SIA) this week posted its results for its financial year ended March 31 which revealed the group’s highest net profit in its 76-year history.
The Star Alliance airline said strong demand is driving record revenue, operating profit and passenger load factor.
SIA recently reinstated services to Guangzhou, while its low-cost carrier Scoot resumed services to Balikpapan and Qingdao.
As of March 31, the group’s passenger network covered 109 destinations in 36 countries. SIA served 74 destinations while Scoot served 58 destinations.
For the Northern Summer operating season (March 26 2023 to October 28 2023), the SIA Group will expand its services to China with the resumption of Scoot’s flights to Haikou, Ningbo, and Xi’an (April 2023), Nanning and Shenyang (May 2023), Jinan (July 2023), and Nanchang (August 2023).
Scoot has increased flight frequencies to Athens, Fuzhou, Guangzhou, Hangzhou, Langkawi, Makassar, Manado, Penang, Perth, Taipei, Hokkaido (Sapporo), Tianjin, and Zhengzhou.
SIA will mount supplementary flights to Barcelona, Frankfurt, and Rome to meet the higher demand during the 2023 summer peak, and resume services to Busan in August.
To align capacity with demand projections, SIA will suspend services to Vancouver in October and Scoot will suspend operations to Gold Coast in July.
The SIA Group’s capacity is projected to reach an average of around 83 per cent of pre-Covid levels in the first half of its financial year to September 30.
SIA took delivery of one Airbus A350-900 in March 2023, and one Boeing 787-10 in April 2023. These aircraft have since joined the operating fleet, alongside one Boeing 737 Max 8 aircraft post the retrofit of its cabin.
As of March 31, the group had 195 aircraft in its operating fleet comprising 188 passenger aircraft and seven freighters.
SIA’s operating fleet comprised 133 passenger aircraft and seven freighters, while Scoot had 55 passenger aircraft.
With an average age of six years and nine months, the group fleet is one of the youngest and most fuel-efficient in the airline industry.
As of May 16, SIA’s orderbook comprised three A350s, 15 787-10s, 31 777-9s, 13 737 Max 8s, and seven A350Fs.
Scoot’s orderbook comprised three 787-8s, one 787-9, 12 A320neos, six A321neos, and nine E190-E2s. Note 8: Number of destinations, and countries and territories include Singapore.
SIA Group confirms that it recently reached an agreement with Boeing to adjust its aircraft orders.
This includes swapping three 787-9 Dreamliner aircraft for three larger 787-10s, and cancelling eight 737 Max 8 aircraft in line with the group’s long-term fleet renewal strategy, and to support its projected operational requirements.
Following these adjustments, the SIA Group currently has 100 aircraft in its orderbook.
