It seems consumer spending has been surging in recent months as the world enjoys a much-needed recovery., where people open their wallets in a big way after two years of restrictions.Revenge travel is a subset of revenge spending and represents a desire to make up for lost time and to scratch that travel itch.
Singapore’s flagship carrier has already seen a jump in passenger numbers in March, which clocked in at 893,000.However, a look back at the operating statistics for December 2019 showed that SIA carried 3.5 million passengers back then. SIA has also reported its first quarterly profit of S$84.7 million for its fiscal 2022’s third-quarter , a sign that its financial numbers are displaying a turnaround.Ground handler and food solutions provider SATS Ltd is another beneficiary of this surge in travel and tourism.
The increase in the number of flights and passengers carried will no doubt have a positive impact on SATS’ top and bottom lines.
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