Singapore Airlines Group (SIA) has reported a record-high cargo flown revenue of $1,875 million for the first half of the current financial year – a 51 per cent increase compared to the same period last year.
Cargo capacity rose 49.5 per cent, with loads carried also rising, up 61.6 per cent.
SIA said its strong cargo performance reflects the “capacity crunch” in air freight and ocean freight, as well as ongoing supply chain disruptions driving air freight demand.
Commenting on the future outlook for cargo, the airline said: “The traditional year-end cargo peak period is expected to see strong demand, supported in part by retail inventory restocking before the peak shopping season.
“This comes amid an ongoing industry capacity crunch for both air freight and ocean freight. Purchasing Managers’ Indices are still in expansionary territory for key export economies, boding well for air cargo demand.
“Nonetheless, some economies are now facing production constraints as a result of pandemic controls, supply chain disruptions, and energy shortages.
“The SIA Group will continue to maximise freighter utilisation to meet demand. Expansion of bellyhold capacity will continue with the resumption of passenger flights, and the continued deployment of passenger aircraft for cargo-only flights as required.”