SIA Group Starts 2026 With Higher Passenger Volumes but Softer Load Factors

SIA – Singapore Airlines ( (SG:C6L) ) has provided an update.

Singapore Airlines and its low-cost arm Scoot reported mixed operating metrics for January 2026, with the mainline carrier seeing slight declines in traffic and load factor while Scoot expanded capacity and passenger volumes. The group’s combined passenger capacity rose 2.1% year on year, with passengers carried up 4.1%, indicating resilient underlying demand despite marginal softening in average load factors.

The SIA Group’s cargo business held broadly steady, with cargo load unchanged but volumes carried edging up 1.2% and load factor improving by 1 percentage point as capacity was trimmed by 2%. Regional performance was uneven, with stronger passenger load factors in East Asia and the Americas but weaker loads on European routes, suggesting a shifting demand mix that may influence future network and capacity decisions for both passenger and freight operations.

The most recent analyst rating on (SG:C6L) stock is a Hold with a S$7.23 price target. To see the full list of analyst forecasts on SIA – Singapore Airlines stock, see the SG:C6L Stock Forecast page.

More about SIA – Singapore Airlines

Singapore Airlines is the flag carrier of Singapore, operating full-service passenger and cargo flights across East Asia, the Americas, Europe, the South West Pacific, West Asia and Africa. Its low-cost subsidiary Scoot focuses on regional and medium-haul markets, together forming the SIA Group’s core airline operations in both premium and budget travel segments, as well as global air freight.

YTD Price Performance: 8.75%

Average Trading Volume: 5,107,826

Technical Sentiment Signal: Strong Buy

Current Market Cap: S$21.9B

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