SINGAPORE (Yosefardi) – Singapore Airlines reported lower load factors at 74.6% last month as number of passengers carried inched up 1% only to 1.47 million, while its capacity grew 3.1%.
“Load factors softened across all regions. Europe and South West Pacific registered the highest decline as the growth in passenger carriage was outstripped by the increase in capacity,” the airline informed SGX Monday.
SQ admitted the operating environment remains challenging. “Yields are expected to remain under pressure as efforts are made to boost loads in the current operating environment,” the airline added.
SQ shares ended higher by 0.59% to S$10.26 on Monday (June 17). At this price, Singapore Airlines has market capitalization of S$12 billion. The stock has dropped from above S$16 in late 2010.