SIA Group reported a net profit of $734 million in the first quarter of fiscal 2023/24, which recorded the highest first quarter meetings amid strong demand for air travel during the mid-year school holidays and the start of the summer travel season.
The group's passenger capacity increased 32.4% year-on-year as restrictions on international air travel were eased globally. SIA and Scoot carried 8.4 million passengers this quarter, up 65.5% year-on-year, with strong demand across all routes and market segments. Passenger factor and occupancy capacities improved in all markets with annual traffic growth, outpacing capacity information. The group had a record 88.9% passenger load factor in the first quarter, with SIA 88.1% and Scoot 91.7%.