The Covid parenthesis is well and truly over for the group Singapore Airlines with the announcement of profits for the 2022/23 financial year ending 31 March 2023. After 3 financial years with losses, due to the Covid-19 pandemic, the SIA Group has returned to profit.
The carrier even recorded its best results ever with net profit of 1.48 billion euros (SGD 2.157 billion). In the 76 years of its existence, the carrier had never achieved such a level. It was accompanied by a 133% year-on-year increase in sales. That's 12.215 billion euros (17.775 billion SGD).
The resumption of traffic resulted in the transport of 26.5 million passengers on SIA and Scoot with a record load factor of 85.4%.
The Group's conservative expansion strategy has therefore had a positive impact on the financial result. At 31 March 2023, SIA and Scoot were operating 80 % of their pre-Covid capacity. 188 passenger aircraft (133 for SIA & 55 for Scoot) covering a network of 109 destinations in 36 countries. The most recent destinations added to the network are Guangzhou (SIA), Balikpapan and Qingdao (Scoot).
With results like these, however, the SIA Group has no plans to expand in all directions. Quite the contrary, in fact. The SIA should return to a capacity level of 83% pre-Covid 19 for the first half of the current financial year. An increase of less than 5% compared with the previous period. This is despite the fact that both carriers are taking over some routes and increasing their frequencies.
More routes to China, more flights to Paris
Over the summer season, Scoot resumes routes to China. The carrier has confirmed its return to Haikou, Jinan, Nanchang, Nanning, Ningbo, Shenyang and Xi'an between April and August. SIA's low-cost subsidiary is also increasing its frequencies to Athens, Fuzhou, Guangzhou, Hangzhou, Langkawi, Makassar, Manado, Penang, Perth, Taipei/Sapporo, Tianjin and Zhengzhou.
In Europe, Paris is particularly well served this summer. Singapore Airlines will be offering four additional weekly flights, bringing its total service to 14 weekly flights. Frequencies are operated by Airbus A350-900 and Boeing 777-300 ER. The airline is also increasing its flights to Barcelona, Frankfurt and Rome during the peak summer period..
On the other hand, the group has announced the suspension of its flights to Vancouver next October, while Scoot is stopping its service to the Gold Coast in Australia from July.
