Tuesday, April 29, 2025
Home Blog Page 173

SIA profit takes off to record high

By
TTR WEEKLY
-

SINGAPORE 21 May 2024: Singapore Airlines declared the highest full-year operating and net profits in the Group’s history for the financial year ending 31 March 2024, claiming positive demand for air travel  spurred robust passenger increases in revenue and load factors

Record profits

The Group’s operating profit reached a record SGD2,728 million, up SGD36 million or 1.3% from the previous year. Net profit improved by SGD518 million (+24.0%) to SGD2,675 million.

The positive annual results confirmed last week were achieved against a backlog of geopolitical tensions, macroeconomic uncertainties, inflationary pressures, and supply chain constraints that have posed serious global challenges for the aviation industry.

In its financial statement, the SIA Group said its robust foundations and long-term strategic initiatives position it strongly to capture future growth opportunities.

The Group proposed a final dividend of 38 cents per share, resulting in a total payout of 48 cents per share for FY2023/24, or a dividend yield of 7.5%.

Passager traffic grows 26.6%

In its financial report for the full year ending 31 March 2024, the airline noted that demand for air travel remained buoyant throughout the financial year, boosted by a rebound in North Asia as China, Hong Kong SAR, Japan, and Taiwan fully reopened their borders. SIA and Scoot carried 36.4 million passengers, up 37.6% year-on-year. 

Passenger traffic grew 26.6%, outpacing the capacity expansion of 22.9%. As a result, the Group passenger load factor (PLF) improved 2.6 percentage points to a record 88.0%. SIA and Scoot registered record PLFs of 87.1% and 91.2% respectively.

Revenue rose 7%

Group revenue rose SGD1,238 million (+7.0% year-on-year) to a record SGD19,013 million. Passenger flown revenue rose by SGD2,319 million (+17.3%) to SGD15,685 million, despite a 7.6% decline in passenger yields. Cargo flown revenue fell SGD1,485 million (-41.2%) to SGD2,119 million. While cargo loads increased by 1.7% due to the strong demand from the e-commerce segment, yields were 42.2% lower year-on-year – albeit 29.8% above pre-pandemic levels.

Expenses increased 8% 

Group expenditure increased SGD1,202 million (+8.0%) to SGD16,285 million. Non-fuel expenditure rose by SGD1,336 million (+13.5%) and was partially offset by an SGD132 million decrease (-2.5%) in net fuel cost. The increase in non-fuel expenditure was lower than the 16.0% increase in overall passenger and cargo capacity. On the other hand, net fuel cost fell despite higher volumes uplifted (+SGD918 million) and a lower fuel hedging gain (+SGD358 million), mainly due to an 18.5% decrease in fuel prices (-SGD1,281 million).

Record profit

As a result, the Group’s operating profit reached a record SGD2,728 million, up SGD36 million or 1.3% from the previous year. The Group’s net profit improved by SGD518 million (+24.0%) to SGD2,675 million. This was mainly due to the better operating performance (+SGD36 million), a net interest income versus net finance charges a year before (+SGD215 million), lower tax expense (+SGD132 million), and a share of profits versus a share of losses of associated companies from the previous year (+SGD104 million).

SQ names new Executive Vice President

By
TTR WEEKLY
-

SINGAPORE 21 May 2024:The Singapore Airlines Group has promoted Leslie Thng to Executive Vice President, effective 1 July 2024.

Thng, 50, remains the Chief Executive Officer (CEO) of Scoot, SIA’s low-cost carrier subsidiary. He will continue to report to SIA CEO  Goh Choon Phong and the Board of Budget Aviation Holdings, Scoot’s holding company.

Photo credit: SQ. Leslie Thng.

He joined Singapore Airlines in 1999 and served as Senior Vice President of Sales and Marketing before his current role. He was the CEO of Vistara, SIA’s Indian joint venture with Tata Sons, from October 2017 to December 2021. Before that, he was Scoot’s Chief Commercial Officer (May 2016 to October 2017) and Chief Executive of SIA’s former regional carrier SilkAir (August 2012 to May 2016).

Singapore Airlines Chief Executive Officer Goh Choon Phong said: “As an SIA Group veteran, Leslie has a wealth of experience from key positions in Singapore and other important markets of Singapore Airlines, as well as his leadership roles with Scoot and Vistara. His promotion bolsters our senior management team and allows him to make a deeper contribution to the future success of the SIA Group.”

Scoot experienced significant growth under Thng’s leadership, with its capacity, passenger traffic, and load factors exceeding pre-pandemic levels in 2024. This success reinforced its position as a leader in the low-cost carrier segment, earning it the Value Airline of the Year award at the 2024 Air Transport World Airline Industry Achievement Awards and the 2023 World’s Best Long Haul Low-Cost Airline award from Skytrax.

He also steered Vistara through milestones, including launching international flights and integrating the Boeing 787-9 widebody aircraft into its fleet, helping to entrench the airline’s position as India’s preferred full-service carrier.

India’s IndiGo seals A350 deal

By
TTR WEEKLY
-

BANGKOK, 21 May 2024: India-based IndiGo has placed a firm order for 30 Airbus A350-900 aircraft, a crucial step in expanding the airline’s international network to long-haul destinations. 

India, the world’s fastest-growing major aviation market, is on the verge of an international travel boom as the economy grows and household incomes rise. The A350 is well-positioned to serve the country’s aspirations for long-range travel. 

“Today’s historic moment marks a new chapter for IndiGo and will further shape the airline’s future and Indian aviation at the same time. For IndiGo after successfully pioneering the Indian skies with an unprecedented journey, its fleet of 30 Airbus A350-900 aircraft will allow IndiGo to embark on its next phase of becoming one of the leading global aviation players. At IndiGo, we take pride in being India’s preferred airline and in offering connectivity to our customers in and with India. This reaffirms IndiGo’s belief in and commitment to the growth of India and our strategic partnership with Airbus,” said  IndiGo.CEO Pieter Elbers

” IndiGo’s first widebody order opens an exciting new chapter in our close partnership. We are proud that our fuel-efficient, next-generation A320 Family revolutionised domestic air travel in India and that now the A350 is poised to replicate the same success on long-haul routes,” said Airbus EVP Sales, Commercial Aircraft, Benoît de Saint-Exupéry.   

SWISS fleet dons sharkskin

By
TTR WEEKLY
-

SINGAPORE, 21 May 2024: Swiss International Air Lines has applied sharkskin film to its fleet of 12 Boeing 777-300ER long-haul aircraft in a bid to reduce its fuel bill and improve its carbon footprint.

AeroSHARK technology, which promises to reduce fuel consumption, was first applied to the first SWISS aircraft in October. Now, the final member of the SWISS Boeing 777 fleet, HB-JNF, received its ‘sharkskin’ film at the beginning of May, ensuring all 12 aircraft are flying with the innovative new technology.

All 12 of the airline’s flagship long-haul Boeing 777s now carry the innovative technology, giving SWISS the world’s first fully-AeroSHARKed aircraft fleet.

The transparent AeroSHARK film is applied to the aircraft’s fuselage and engine nacelles. With its micrometre-deep ‘riblets’ aligned to the airflow direction, the film replicates the hydrodynamic skin of a shark, reducing air resistance in flight by around 1%. As a result, even with only part of its Boeing 777 fleet equipped with the new technology, AeroSHARK lowered SWISS’s kerosene consumption last year by over 2,200 tonnes, with concomitant reductions of some 7,100 tonnes in the airline’s carbon dioxide emissions.

“We are very pleased with the results that we have achieved with AeroSHARK to date,” said SWISS’s Head of Technical Fleet Management Claus Bauer. “We’re proud, too, to be the first airline in the world to have equipped an entire aircraft fleet with this innovative technology. It takes about a week for each aircraft to have the AeroSHARK film applied, which requires high-precision workmanship. I am delighted that our commitment to this technology is delivering such positive results, enabling SWISS to take a further substantial step in making flight operations more sustainable.”

Lufthansa Technik and BASF jointly developed the AeroSHARK aircraft skin technology. SWISS is also considering extending its AeroSHARK application programme to other aircraft types in its long-haul fleet in the medium term.

Sarawak enlists PATA support for sustainability

By
TTR WEEKLY
-

KUCHING, 20 May 2024: The Sarawak Tourism Board has inked a new partnership with the Pacific Asia Travel Association (PATA) to strengthen cooperation and jointly promote sustainable tourism and resilience efforts in Sarawak.

A Memorandum of Understanding (MoU) was signed by STB CEO, Sharzede Datu Haji Salleh Askor, and PATA CEO Noor Ahmad Hamid in the presence of STB Chairman YB Dato Dennis Ngau and PATA Chair, Peter Semone during last week’s PATA Annual Summit in Macao, China.

From Left to Right, Peter Semone, Chair, PATA; Noor Ahmad Hamid, CEO, PATA; Puan Sharzede Datu Hj. Salleh Askor, Chief Executive Officer, Sarawak Tourism Board; and YB Dato Dennis Ngau, Chairman, Sarawak Tourism Board.

“We are delighted to strengthen our collaboration with the Sarawak Tourism Board and look forward to the numerous activities we have planned over the next four years. PATA and STB have cultivated a strong relationship over the years, which heightens our excitement for this opportunity to collaborate closely on initiatives aimed at positioning Sarawak as a leading and exemplary destination in terms of sustainability,” said Noor.

The Mou calls for STB and PATA to launch jointly tourism resilience and sustainable tourism practices, introduce carbon offset projects in Sarawak, engage in joint advocacy and policy development activities, jointly organise events, and collaborate on green hospitality, urban sustainability and biodiversity conservation initiatives.

Sharzede commented: “We believe tourism is a catalyst for economic growth, cultural exchange, and social cohesion. Sarawak Tourism is proud to collaborate with PATA on initiatives that not only enhance tourism resilience and sustainability but also position Sarawak as the Gateway to Borneo. Through joint efforts in carbon offset projects, advocacy, and biodiversity conservation, we aim to showcase Sarawak’s rich natural heritage while leading the way in responsible tourism practices.”

The first activity outlined in the MoU is the Tourism Destination Resilience (TDR) capacity-building programme, scheduled to take place in Kuching from 20 to  21 May. This programme will offer tourism officials training modules focusing on risk assessment and management, crisis communications, adaptive capacity improvement, and diversification strategies. 

From 23 to 24  May, small and medium-sized enterprises (SMEs) in the tourism sector will join a workshop on financial and digital skills, aiming to empower them with greater financial literacy and leverage digitalisation to enhance competitiveness.

Following the TDR Programme, PATA and STB will engage in activities, including workshops focused on ecotourism and community-based tourism development, waste management, and reduction, and the implementation of sustainability certifications and carbon neutrality activities.

Throughout the partnership, the MoU emphasises the importance of continuous monitoring, evaluation and adjustment to ensure the success of sustainable tourism initiatives in Sarawak.

For more information on Sarawak visit www.sarawaktourism.com

(SOURCE: STB and PATA)

Escape Awaits at Dusit 75th celebration

By
TTR WEEKLY
-

BANGKOK, 20 May 2024: Dusit Hotels and Resorts, the hotel arm of Dusit International, a leading hotel and property development group headquartered in Thailand, celebrates 75 years of Thai-inspired gracious hospitality by introducing ‘The Art of Travel’ campaign.  

The special features exclusive offers at selected Dusit properties across Thailand, Japan, the Maldives, China, and beyond, supported by a social media contest offering free stays plus pocket money at any Dusit hotel and resort worldwide. 

The first offer of the campaign — Delight in Your Getaway — includes up to 10% discount on room rates and up to 30% complimentary hotel credit to spend on dining and spa treatments. The offer is available on direct bookings via dusit.com only from now until 10 June 2024 and for stay dates until 10 July 2024. Rates start from only THB1,290 per night.

Members of Dusit’s guest recognition programme, Dusit Gold, enjoy additional privileges when booking the offer, including an extra 10 per cent off their stay, Dusit Instant Delight rewards, and other exclusive benefits. Enrolment to the programme is free via dusit.com/gold. 

In addition to the special offer, Dusit has launched an interactive contest on Instagram called Which Escape Awaits? This invites participants to use Dusit’s exclusive AR filters and create a public Reel sharing their dream Dusit property and why they want to visit.

Entry also requires including #DusitEscape and @Dusit.Hotels within the caption. Seventeen winners will be chosen, with the grand prize offering a five-night stay at any Dusit hotel or resort worldwide and USD1,500 in spending money. The contest runs until 15 July 2024, and winners will be announced on 30 July.

Drawing on 75 years of experience in the hospitality industry, Dusit traces its origins back to 1948, when Founder and Honorary Chairperson Thanpuying Chanut Piyaoui began working on her first hotel, the Princess, which opened on Bangkok’s Charoenkrung Road in 1949. 

Dusit’s portfolio now includes 299 properties operating across 18 countries, including 56 properties operating under Dusit Hotels and Resorts and 243 luxury villas under Elite Havens, the leading provider of luxury villa rentals in Asia, which Dusit acquired in September 2018. More than 60 Dusit Hotels and Resorts are in the pipeline. 

Further special offers under The Art of Travel will be introduced throughout the year. For more information, visit dusit.com/hotel-deals.

More details about the ‘Which Escape Awaits?’ social media contest are available at dusit.com/giveaway.

Australia will fast-track passports

By
TTR WEEKLY
-

SYDNEY, 20 May 2024: The Australian Travel Industry Association (ATIA) welcomes the Federal Government’s Budget announcement to fast-track passport processing, saying the move is significant and aligns with ATIA’s advocacy efforts to make travel seamless for Australians.

The introduction of expedited passport services will commence on 1 July 2024. For an additional fee, applications will be processed within five business days. This initiative is anticipated to streamline Australian travel, enhance international mobility, and boost the travel industry’s recovery post-pandemic.

From left to right: ATIA CEO Dean Long; Minister for Trade & Tourism Senator the Hon Don Farrell; ATIA Director of Advocacy & Public Policy Ingrid Fraser.

“We are thrilled by the Government’s decision to fast-track passport processing. This reflects our close relationship and ongoing work with the Australian Passport Office and Government,” said ATIA CEO Dean Long.

“Starting in July, passports can be processed within five business days for an additional fee of AUD100. This offers a great option for travellers seeking more certainty in receiving their passports, without needing the two-day expedited service, which will soon cost nearly AUD300.”

“It’s also an opportunity to share with clients that, on 1 July, passport fees have an additional 15% increase, so anyone looking to renew this year should do so before then.”

(SOURCE: ATIA)

Japan tops trending list

By
TTR WEEKLY
-

SINGAPORE 20 May 2024: The global travel sector is breaking boundaries in 2024 as consumer spending on tourism remains robust and passenger traffic soars, according to the latest report from the Mastercard Economics Institute (MEI). 

Released last week, MEI’s fifth annual report, “Travel Trends 2024: Breaking Boundaries,” provides comprehensive insights into the evolving landscape of the travel industry across 74 markets, including 13[1] in the Asia Pacific region (APAC).

Despite fluctuating exchange rates and varying levels of affordability, travel is booming. Nine out of the last 10 record-setting spending days in the global cruise and airline industries occurred this year. Looking ahead, the MEI anticipates this momentum will continue as consumers worldwide prioritise meaningful experiences and allocate more of their budgets to travel.

Here in the Asia Pacific region, a few themes stand out

Japan emerged as the top trending destination worldwide (growing 0.9% vs Ireland at 0.4%), as it welcomed 3,081,600 visitors from abroad in March 2024 — the highest level ever — even before the peak travel season began. Driven by a weak yen (the lowest since 1990), Japan’s favourable exchange rate is expected to help it remain the clear tourism frontrunner throughout 2024, benefitting Japanese businesses catering to tourists and the local economy overall.

APAC passenger traffic is rebounding, particularly for shorter, intra-regional trips. For example, this summer, Bangkok, Kuala Lumpur, and Perth are the top destinations for travellers from Singapore.

According to MEI, Thailand’s tourism is expected to fully recover in 2024, with total visitor arrivals now only 7% below 2019 pre-pandemic levels[3]. Notably, inbound flight traffic from South Asia and the ASEAN region is nearly 20% above 2019.

Chinese Mainland Tourism Rebounds

The Chinese mainland’s travel dynamic has shifted, as more Chinese tourists are prioritising domestic trips over international ones.

The Chinese mainland’s domestic tourism story is positive, as air passenger traffic has fully normalised and even exceeded 2019 levels, benefiting local businesses. Meanwhile, international tourism traffic leaving the Chinese Mainland continues to recover and is now at 80.3% of 2019 levels.

Additional upside growth is expected in 2024, supported by visa exemptions in APAC and beyond and an increase in international flight capacity, which will benefit destinations such as Singapore, Malaysia, and Thailand.

More Indians are travelling 

Strengthened by a burgeoning middle class, additional route capacity, and a strong desire to travel, 2024 marks when more Indians travel internationally than at any time in history.

In the first three months of 2024, 97 million passengers travelled through Indian airports. Just 10 years ago, the same figure would have taken a whole year to achieve. As of March 2024, domestic passenger traffic is up 21% compared to 2019 levels, while international passenger traffic is up 4%.

Indian travellers to key markets are up significantly in 2024 compared to 2019: 53% increase in visitors to Japan, 248% increase to Vietnam, 59% increase to the United States (notable as total overseas arrivals to the U.S. are still 7% below 2019 levels, largely due to the strong USD). 

Leisure for Longer

In APAC (excluding ANZ) in 2024, tourists extend their trips by an average of 1.2 days to 7.4 days, motivated by the affordability of destinations, warm weather, and favourable exchange rates. This compares to the 2019 average of 6.1 days per trip.

In Australia and New Zealand (ANZ), overseas visitors stay for an average of 5.4 days, an increase of 0.6 days compared to 2019.

The APAC destinations with the longest increase in trip duration between 2019-2024 are India (+2 days), Vietnam (+2 days), Indonesia (+1.9 days), and Japan (+1.4 days), largely due to their lower growth in hotel prices during this period compared to other markets.

Longer stays generally translate to more spending per trip, which benefits local economies.

Thrill Seekers Want Experiences and Nightlife

Consumers globally continue to prioritise experiences over material goods. This is playing out in the travel sector as spending on experiences and nightlife totals 12% of tourism sales – the highest point in at least five years. Meanwhile, retail shopping is recovering at a slower pace.

Australian tourists are the highest spenders globally on experiences and nightlife

In 2024, Aussies will spend one out of every five dollars (19%) on these activities, significantly higher than the global average (12%). Tourists from the Chinese Mainland are also increasingly seeking out experiences, spending 10% on this category in 2024, up from 7% in 2023.

Explore the full Travel 2024: Breaking Boundaries report here. Additional reports and insights from the Mastercard Economics Institute can be found here

Traveloka boosts travel on Cebu Pacific

By
TTR WEEKLY
-

BANGKOK, 20 May 2024: Traveloka, A leading travel platform in Southeast Asia, has announced a strategic partnership with Filipino low-cost carrier Cebu Pacific (CEB) to attract more Thai and Southeast Asian tourists to visit the Philippines.

It introduces an application interface allowing inbound travellers to explore CEB flights through the travel app.

(Left) Xander Lao, President and Chief Commercial Officer of Cebu Pacific and (Right) Iko Putera, CEO of Transport Traveloka, during the partnership signing at the Cebu Pacific office.

Aligned with Traveloka’s commitment to helping the tourism industry in Southeast Asia recover from the pandemic, this initiative is expected to positively contribute to the growth of Philippine tourism by making it easier for Thai and Southeast Asian tourists to explore the country’s exciting destinations.

The Philippines’s tourism sector continues to perform strongly year after year. The Philippine Department of Tourism recorded more than 5.4 foreign travellers visiting the country in 2023, and targets 7.7 million foreign travellers in 2024.

Meanwhile, Traveloka also recorded a 2.5-fold increase in searches to the top five airports in the Philippines in 2024 compared to last year. The five most popular destinations in the Philippines on the Traveloka platform include Manila, Laguindingan, Cebu, Davao, Boracay, and Palawan.

Traveloka, CEO of Transport Iko Putera said: “Our partnership with Cebu Pacific, one of the premier and most affordable airlines for the Philippines, will provide diverse possibilities for travellers and spearhead innovation to deliver optimal solutions for customers. We will also contribute to growth within the tourism industry in the Philippines and the wider region.”

Cebu Pacific President and Chief Commercial Officer Xander Lao said: “We are delighted to collaborate with Traveloka to support the local tourism industry and make travelling to the Philippines easier.”

Traveloka also noted a significant surge, a fivefold increase compared to the previous year, in the number of travellers from Southeast Asian countries who booked Cebu Pacific flights through its platform. Apart from domestic tourists, travellers from Thailand, Indonesia, Vietnam, Singapore, Malaysia, and Australia are among the top six nationalities travelling to the Philippines based on Cebu Pacific flight data.

MATTA: Banish the 100 km bus stop

By
TTR WEEKLY
-

KUALA LUMPUR, 20 May 2024: The Malaysian Association of Tour and Travel Agents (MATTA), the leading voice for Malaysia’s travel and tourism industry, is pressing for more equitable cross-border tour bus arrangements between Malaysia and Thailand. 

Currently, Malaysian tour buses are restricted to operating within a 100 km radius of the Thailand border, while Thailand tour buses enjoy unrestricted access throughout Malaysia without any distance limit.

MATTA President Nigel Wong expressed concern over the disparity and called on the Malaysian Government to discuss rectifying the imbalance with its Thai counterparts. 

“The current arrangement places Malaysian tour operators at a significant disadvantage. While Thailand tourist buses can operate without restrictions in Malaysia, our buses face a 100 km limit in Thailand. This is neither fair nor conducive to fostering mutually beneficial tourism relations between our two countries,” said Wong.

MATTA underscores the potential economic benefits of reciprocal agreements, allowing seamless travel and operations for tour buses from both countries. Such arrangements would promote fairness and stimulate tourism collaboration, leading to increased economic benefits for both Malaysia and Thailand.

“We urge the Malaysian Government to take immediate action in negotiating with the Thailand Government to allow Malaysian tour buses the same freedom of movement within Thailand as Thailand buses currently enjoy in Malaysia. This will ensure a level playing field and support the growth and development of the tourism sectors in both nations,” Wong added.

MATTA renews its commitment to supporting Malaysian travel agents and operators, advocating for policies and practices that facilitate smoother and more efficient operations. The association is confident that the Malaysian Government will prioritize this issue and work towards a fair resolution.

(SOURCE: MATTA)

1...172173174...598Page 173 of 598

Stay ahead with the
latest travel news
on Southeast Asia.

Subscribe now


Contact Us
TTR Weekly (TTRW) is published in Bangkok, Thailand, registered since 1978.
/ month
placeholder text
/ month
placeholder text
Press releases, announcements, events for calendar should be sent to: [email protected]
/ month
placeholder text

Copyright © 2023 TTR Weekly, all rights reserved.