The latest report from Alton Aviation Consultancy shows how Singapore’s aviation sector experienced robust post-pandemic recovery.
Driven primarily by a surge in travel demand as Singapore swiftly reopened its borders, the industry’s recovery may also be attributed to the ability of Singapore Airlines to rapidly ramp up its network.
As of press time, both Singapore Airlines and its low-cost carrier Scoot have successfully returned to their pre-pandemic capacity levels.
Singapore Airlines reached 93 percent of its pre-pandemic capacity in terms of available seat kilometers (ASKs) as of the end of 2023, while Scoot hit 104 percent.
In contrast, Jetstar Asia experienced a slower recovery, restoring barely half of its pre-pandemic capacity in 2023.
The faster way to recovery
The ability to ramp up operations at a much faster rate than their competitors enabled Singapore Airlines and Scoot to capitalise on the pent-up demand for travel, paving the way for high load factors and strong financial performance.
Both airlines achieved record passenger load factors of 87.1 percent and 91.2 percent respectively in the most recent financial year, ending 31 March 2024.
The size of Singapore Airlines’ fleet and network have been key drivers of the local airline industry’s strong performance, following the immediate post-pandemic era.
Nonetheless, there were still certain geopolitical factors within key markets which slowed the industry’s recovery, such as the delayed reopening of China. If these issues had not arisen, the recovery back to 2019 levels would have been much faster.
