Singapore Airlines expects passenger yields to drop in 2023 as rivals increase capacity

Singapore Airlines expects a decline in passenger yields going into next year. This, as rival airlines increase their operating capacity by putting back planes left idle during the COVID-19 pandemic. SIA said passengers will have more flight options, which might affect demand beyond the year-end peak travel season. SIA posted record operating profits of nearly $690 million for the last quarter and over $1.2 billion for the half year. But it remains watchful going into 2023, citing high fuel prices and geopolitical tensions.