March decline outpaces capacity cuts
Singapore Airlines (SIA) has blamed a 23% slump in passenger numbers over March on planned capacity reductions and weakening demand.
The airline carried 1.3 million passengers in March, compared to 1.7 million in the same month last year.
SIA said traffic measured in revenue passenger kilometres (RPK) slumped 21.8%, outpacing a 9% capacity reduction.
The resulting load factor fell to 69.4%, compared to 80.8% last year.
"The year-on-year capacity decline resulted from the planned reduction in frequencies across many route regions due to the softer demand," said SIA.
SIA said its use of smaller B777-300ER aircraft on the San Francisco service, plus the termination of Los Angeles, Osaka and Amritsar services had also contributed to capacity reductions.
"The current global economic slowdown has weakened travel demand. Consequently, all route regions registered declines in load," added SIA.
The airline said last year's traffic had been boosted by the Easter holiday peak which occurred in March, not April.
SIA did not rule out further route adjustments "where necessary to match capacity to demand."
Last month SIA announced a 50% cut in premium traffic fares, in response to fierce price competition on its core routes.
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