Singapore Airlines Group reports 'healthy' air travel demand in Q1FY2025

Singapore Airlines Group (SIA) reported (15-May-2024) demand for air travel remains "healthy" in Q1FY2024/25, supported by a strong pick up in forward bookings to North Asia and Southeast Asia. SIA stated passenger yields will likely continue to moderate due to increased capacity injection by airlines, especially in Asia Pacific. The group will monitor market conditions and adjust its network in line with demand patterns. Cargo demand strengthened towards the end of FY2023/24, supported by "healthy" e-commerce demand, resilient and growing segments such as perishables and concerts and a shift to airfreight by some shippers due to security concerns in the Red Sea region. The company added: "While yields have held above pre-pandemic levels in FY2024/25, there continues to be downward pressure as industry bellyhold capacity increases". The group will monitor key trade lanes to ensure the competitiveness of the cargo segment. [more - original PR]