The Covid-19 pandemic took a substantial toll on the travel industry and Singapore Airlines (SIA) was among those affected.
The company had to subsequently come up with initiatives and measures to tackle the resultant fallout.
Fortunately, their efforts seem to have paid off. The 49th Annual Air Transport World (ATW) Airline Industry Achievement Awards has named SIA the ‘Airline of the Year’.
This was after taking factors such as their pandemic response and restoration of passenger capacity into account.
According to Aviation Week, the 49th ATW Airline Industry Achievement Awards has named SIA the ‘Airline of the Year’.
SIA likewise confirmed the news in a Facebook post today (15 Feb).
Source: Singapore Airlines
Recipients are awarded across a variety of airline operations, with the annual ceremony in Istanbul, Turkey on 2 Jun.
A panel of editors and analysts at ATW, Routes, Aviation Week and Centre for Aviation (CAPA) selected SIA as this year’s topmost airline.
They stated that the firm had responded rapidly and decisively to the Covid-19 pandemic travel restrictions by raising S$22.4 billion in fresh liquidity. This was the most by any airline at the time.
In addition, the company implemented several cost-cutting and innovative initiatives. Such a move allowed them to re-enter the market strongly when borders re-opened.
After travel restrictions ceased, SIA also posted record passenger load factors. In addition, they managed to restore passenger capacity faster than other airlines in the region to meet demand.
For instance, SIA partnered strategically with several airlines and engaged in a multi-hub strategy to utilise its joint venture with Tata Sons.
Source: SilverKris
The airline’s 2023 summer schedule, Aviation Week said, is also projected to take it above pre-pandemic levels in other markets such as those in the Americas, Europe, and South-Asia.
Speaking to The Straits Times (ST), SIA chief executive Goh Choon Phong stated that the award indicated the resilience of his colleagues during the pandemic. He added:
My colleagues… dedicated themselves to ensuring that we emerged stronger than before as international passenger travel resumed.
“We will continue to strive to exceed our customers’ expectations… and set new standards in the airline industry,” he said.
While almost fully grounded during the pandemic, SIA has reportedly recovered 80% of its pre-pandemic capacity.
From the half year to end-September 2022, the airline also gained a record revenue of S$8.4 billion. They attained an operating profit of S$1.23 billion with a net profit of S$927 million.
In December 2022, SIA also had its highest passenger load factor in the airline’s history at 89.7%. For that year, the group managed to transport 20.7 million passengers, nine times the number in 2021.
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Featured image adapted from Singapore Airlines on Facebook.
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