SF Airlines has significantly increased its capacity in the past year, and has announced that its fleet is now 90-strong.
Year-to-date, its capacity increased 32% over the previous year, but by far the biggest capacity growth is between the Middle East and China, where it is seeing triple-digit numbers.
The carrier said yesterday, via Chinese media, it had just received its 90th aircraft at Shenzhen Bao’an Airport, a 767-300BCF.
It added that more than 30% of its fleet was now widebodies – Planespotters records the fleet, including parked aircraft, at 23 767Fs, four 747Fs, 43 757Fs, and 18 737Fs.
And the carrier said it was broadening its route network: while the majority of its capacity is on intra-Asian routes, it has expanded services to Europe and North America.
Earlier this month, SF ordered 100 unmanned cargo aircraft from Yifei Aviation Technology.
Its owner, SF Holdings has expansive ambitions. Claiming to be the largest integrated logistics service provider in Asia, it told investors last month it was expanding network coverage in Asia and the rest of the world via M&A and partnerships.
SF owns a majority stake in Kerry Logistics, which next week will see shareholders vote on a name change to KLN Logistics Group.
SF told shareholders it had been “actively building a distinct brand identity and culture as it transitions the change in ownership”.
It has more widely adopted the KLN brand in preference to the Kerry name in recent years. SF said: “The board believes that KLN is now an established household name which customers of the group have grown accustomed to.”
SF has not yet reported its 2024 financial results, but the first nine months showed enviable growth.
Year on year, volumes were up 9%, revenue up 9.4%, gross profit up 17.6%, and profit up 21.6%, to RMB7.6bn ($1.05bn). The greatest revenue growth, 15%, came in its supply chain and international division.
SF told investors its total addressable market was worth $11.1 trillion, more than 19-times the size of the global ecommerce market, and 62 times larger than China’s express market .
SF also invested $100m in Flexport in 2018.
In 2024, SF Airlines transported more than 1.17m tonnes of air cargo, exceeding 1m tonnes for the first time.
