Singapore Airlines

Singapore Airlines
  • Country: Singapore
  • Website: singaporeair.com
  • Callsign: Singapore
  • Codes: SQ SIA

Singapore Airlines faces a mixed outlook for 2024. While the airline expects to return to pre-pandemic capacity levels in the 2024/25 financial year, it has warned of pressures on ticket prices and rising costs. Heightened competition as other airlines in the Asia-Pacific region restore capacity is putting downward pressure on passenger yields. Singapore Airlines also cites high fuel prices due to supply risks in the oil market and inflationary pressures on non-fuel costs as key concerns.

Despite these headwinds, Singapore Airlines continues to expand its network and partnerships:

  • The airline launched non-stop services to London Gatwick in June 2024 and Brussels in April 2024.
  • It has deepened its partnership with Marriott International to offer enhanced benefits to members.
  • Singapore Airlines has also proposed a joint venture agreement with Garuda Indonesia to strengthen their commercial partnership.

However, the slower pace of recovery in China’s international travel compared to the rest of the world is impacting the cautious outlook in Asia. Singapore Airlines has stated it will closely monitor market conditions and adjust operations as necessary in response to the challenging environment.

The airline’s shares fell nearly 10% after it reported December quarter earnings that missed expectations and warned of the pressures it faces, underscoring the broader industry concerns.