Singapore Airlines Ltd (SIA) expects passenger yields, a proxy for airfares, could decline in 2023 as rival airlines bring back planes idled during the pandemic and add capacity, a senior executive said on Monday.
A Singapore Airlines Airbus A330-300 plane takes off behind a Boeing 787-10 Dreamliner at Changi Airport in Singapore March 28, 2018. REUTERS/Edgar SuPassenger yields were 32% above 2019 levels in Q2expects passenger yields, a proxy for airfares, could decline in 2023 as rival airlines bring back planes idled during the pandemic and add capacity, a senior executive said on Monday.
The airline on Friday swung to a second-quarter profit and declared its first dividend in three years as international borders reopened and travel demand rebounded strongly in the three months ended on Sept. 30. The airline reported record revenue in the second quarter despite flying only 68% as much passenger capacity as it did in 2019 amid strong pent-up demand for travel during the peak summer season.
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