Singapore Airlines reported a 2.4% growth in RPKs in January compared with the same month in 2011.
The number of passengers carried by the airline increased by 1.7% to 1.46 million, said the Star Alliance carrier.
Capacity, as measured in ASKs, grew by 3.8% and the passenger load factor declined by 1.1 percentage points to 77%.
Passenger load factor weakened across most regions, except for the Americas and Europe, as capacity expansion outstripped growth in passenger carriage. Load factor declined in the West Asia and Africa regions because of softer travel demand, said SIA.
Traffic at its SilkAir subsidiary increased by 13.2%, capacity increased by 13.7% and passengers carried grew by 10.8% to 266,000.
The subsidiary's load factor dropped by 0.3 percentage points to 76.2%.
SIA Cargo's overall traffic measured in freight tonne kilometres recorded a decrease of 12.8%, with a capacity decline of 8.5%. Consequently, the cargo load factor decreased by 2.9 percentage points to 58.5%.
The overall passenger and cargo load factor for the group dropped by 2.4 percentage points to 65.5%, SIA added.