SIA Group reveals its financial position, performance, and growth after it made several strategic decisions in accordance with the recovery in global air travel.
Group passenger capacity reached 79% of pre-Covid levels in March 2023, higher than the 58% level for international scheduled services of Asia-Pacific airlines. SIA and Scoot collectively carried 26.5 million passengers, up six-times from a year before. The passenger load factor (PLF) jumped 55.3 percentage points to 85.4%, the highest in the Group’s history. SIA achieved a record PLF of 85.8%, while Scoot delivered a PLF of 83.9%.
Group revenue increased by $10,160 million (+133.4%) year-on-year to a record $17,775 million. Passenger-flown revenue rose $10,560 million (+376.3%) to $13,366 million as traffic grew 449.9%, outpacing the capacity expansion of 94.0%.
The Group posted a record net profit of $2,157 million for the year, versus a $962 million net loss in the previous year (+$3,119 million). This was mainly driven by better operating performance (+$3,302 million) and lower net finance charges (+$338 million), and partially offset by a tax expense versus a tax credit last year (-$615 million).
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 737-83 aircraft post the retrofit of its cabin. As of 31 March 2023, the Group had 195 aircraft in its operating fleet comprising 188 passenger aircraft and seven freighters.
In the fourth quarter of FY2022/23, SIA reinstated services to Guangzhou, while Scoot resumed services to Balikpapan and Qingdao. As of 31 March 2023, the Group’s passenger network covered 109 destinations in 36 countries and territories. SIA served 74 destinations while Scoot served 58 destinations. The SIA Group’s capacity is projected to reach an average of around 83% of pre-Covid1 levels in the first half of FY2023/24.
SIA Group Posts Performance Report
