SINGAPORE - Singapore Airlines (SIA) was on Tuesday named Airline of the Year in the 49th Annual Air Transport World (ATW) Airline Industry Achievement Awards.
The recognition honours SIA’s swift and decisive response to the Covid-19 pandemic, which enabled it to re-enter the market strongly when borders reopened, said industry publication ATW.
The panel of judges lauded SIA’s response to global travel restrictions.
The airline raised $22.4 billion in fresh liquidity - the most by any airline during the pandemic.
“In addition, multiple cost-cutting and innovative initiatives kept the company on a strong footing,” said the judges, comprising editors and analysts at ATW, airline magazines Routes and Aviation Week, and aviation consultancy Centre for Asia Pacific Aviation.
Indeed, the airline has seen its passenger load factor, which represents the percentage of available seats filled, soar as it quickly restored passenger capacity to capture the pent-up demand in the second half of 2022.
In December 2022, the group had its highest passenger load factor in its history, at 89.7 per cent. In January 2023, its passenger load factor was 85.9 per cent.
The award from ATW comes just weeks after Fortune magazine listed SIA as one of the 50 most admired companies in the world.
SIA is the highest-ranking Asian airline on this prestigious list, which was decided through an independent survey of more than 3,700 companies, analysts and board members.
The annual ATW awards are given to individuals and organisations that have distinguished themselves through outstanding performance, innovation and superior service within the airline industry.
Two airline chief executives were recognised in 2023 for important and significant contributions to the global air transport industry.
Emirates president Tim Clark was honoured with the Lifetime Achievement Award, while Korean Air chairman and CEO Walter Cho was bestowed the Excellence in Leadership Award.
American Airlines was recognised as Eco-Airline of the Year. It was the first airline to receive validation for its 2035 carbon-reduction target from the Science Based Targets Initiative, an international sustainability ratings agency.
Cathay Pacific Cargo was named Cargo Airline of the Year for “continuing to grow, innovate and adapt through some of the most challenging pandemic restrictions”, said ATW.
Mr Goh Choon Phong, SIA’s CEO, said the accolade given to his airline was a testament to the indomitable spirit of everyone at the company.
“My colleagues demonstrated unwavering resilience over the last few years as we navigated the depths of the pandemic and dedicated themselves to ensuring that we emerged stronger than before as international passenger travel resumed,” he said.
“We will continue to strive to exceed our customers’ expectations… and set new standards in the airline industry,” he added.
The awards will be presented to the winners at a gala dinner on June 2 in Istanbul, in conjunction with this year’s annual gathering of the International Air Transport Association.
Mr Goh is expected to accept the award on behalf of SIA.
Nearly the entire SIA passenger fleet was grounded during the pandemic. The airline has currently restored 80 per cent of its pre-Covid-19 capacity.
For the half year to end-September 2022, the company posted a record revenue of $8.4 billion and a record operating profit of $1.23 billion. Its net profit was $927 million.
In 2022, the group carried 20.7 million passengers, up nine-fold from 2021.
