SIA

SIA: Operating results out for May 2012. Passenger carriage improved by 7.1% yoy for May outpacing growth in capacity which grew 3.9%. Passenger load factors improved 2.2% pts to 75.8%. The no of passengers carried increased by 6.6% to 1.5m. Europe and South West Pacific regions showed strong yoy improvements due to the Japan earthquake and tsunami last yr. However, cargo traffic saw a decrease of 7.4% yoy even though capacity decreased 4.6%. Cargo load factor fell 1.9% pts as a result with all regions falling except for South West Pacific, West Asia and Africa. Of note SilkAir's passenger carriage increased 22.7% yoy with a 25.6% growth in capacity. General yoy trend with April figures maintained with passenger carriage figures improving and cargo figures declining.