dotlah! dotlah!
  • Cities
  • Technology
  • Business
  • Politics
  • Society
  • Science
  • About
Social Links
  • zedreviews.com
  • citi.io
  • aster.cloud
  • liwaiwai.com
  • guzz.co.uk
  • atinatin.com
0 Likes
0 Followers
0 Subscribers
dotlah!
  • Cities
  • Technology
  • Business
  • Politics
  • Society
  • Science
  • About
  • Cities

Singapore Airlines Makes Significant Capacity Cuts And Grounds Aircraft

  • March 25, 2020
Total
0
Shares
0
0
0

Singapore Airlines (“SIA”) will be cutting 96% of the capacity that had been originally scheduled up to end-April, given the further tightening of border controls around the world over the last week to stem the Covid-19 outbreak.

This will result in the grounding of around 138 SIA and SilkAir aircraft, out of a total fleet of 147, amid the greatest challenge that the SIA Group has faced in its existence.

The Group’s low-cost unit Scoot will also suspend most of its network, resulting in the grounding of 47 of its fleet of 49 aircraft.

The SIA Group diversified its network and set up Scoot to spread its risks and cater to a wide range of passenger and market segments. However, without a domestic segment, the Group’s airlines become more vulnerable when international markets increasingly restrict the free movement of people or ban air travel altogether.

It is unclear when the SIA Group can begin to resume normal services, given the uncertainty as to when the stringent border controls will be lifted.

The resultant collapse in the demand for air travel has led to a significant decline in SIA’s passenger revenues.

The Company is actively taking steps to build up its liquidity, and to reduce capital expenditure and operating costs. As mentioned on 17 March 2020, SIA will continue to aggressively pursue all measures to address the impact of the Covid-19 outbreak on the Company. These include:

  • Ongoing discussions with aircraft manufacturers to defer upcoming aircraft deliveries. If agreed, this will consequently defer payment for those aircraft deliveries;
  • Salary cuts for the SIA Group’s management with the Company’s Directors also agreeing to a cut in their fees, and a voluntary no-pay leave scheme up to certain management positions. Given the worsening situation, the unions have been engaged on the additional cost-cutting measures that are needed and more steps will be taken imminently; and
  • Over the last few days, the SIA Group has drawn on its lines of credits to meet its immediate cash flow requirements. The SIA Group is engaging in discussions with several financial institutions for its future funding requirements.

The Company continues to explore measures to shore up its liquidity during this unprecedented disruption to global air travel. The Company will release further details when such measures have been firmed up.

Total
0
Shares
Share
Tweet
Share
Share
Related Topics
  • Aviation
  • Coronavirus
  • COVID-19
  • SIA Group
  • SilkAir
  • Singapore Airlines
dotlah.com

Previous Article
  • Cities

MAS Tells Financial Institutions To Adopt Safe Distancing Measures

  • March 25, 2020
View Post
Next Article
  • Cities

NTUC FairPrice Launches Priority Shopping Hour Trial For Vulnerable Segments Of The Community Amidst Escalating Covid-19 Situation

  • March 25, 2020
View Post
You May Also Like
View Post
  • Cities

Politicians love comparing NZ’s economy to Singapore or Ireland – but it’s simplistic and misleading

  • dotlah.com
  • September 21, 2025
View Post
  • Cities
  • Technology

Meralco PowerGen’s PacificLight starts up 100 MW fast-response plant in Singapore

  • dotlah.com
  • June 20, 2025
View Post
  • Cities

Renewable energy, carbon credits are priority areas of cooperation for Singapore, Philippines: Lawrence Wong

  • dotlah.com
  • June 4, 2025
View Post
  • Cities
  • Politics

Singapore businesses eye more investments in PH, says PM Wong

  • Dean Marc
  • June 4, 2025
View Post
  • Cities
  • Research

Mathematicians uncover the logic behind how people walk in crowds

  • dotlah.com
  • April 3, 2025
“Toyota Woven City,” a Test Course for Mobility, Completes Phase 1 Construction and Prepares for Launch
View Post
  • Cities
  • Technology

“Toyota Woven City,” a Test Course for Mobility, Completes Phase 1 Construction and Prepares for Launch

  • John Francis
  • January 6, 2025
View Post
  • Cities

Popes were once confined to Rome. Now they travel the world – and Francis’ current journey is particularly significant

  • dotlah.com
  • September 13, 2024
Singapore
View Post
  • Cities
  • Economy

South Africa’s new pension rules: Australia, Chile and Singapore show how personal savings can grow the economy

  • dotlah.com
  • August 30, 2024


Trending
  • paris-eiffel -tower-jad-limcaco-NT1mJPgni6A-unsplash 1
    • Featured
    Your Ultimate Insider’s Guide to Taylor Swift’s Paris Eras Tour
    • May 11, 2024
  • 2
    • Lah!
    Singapore, Chile And New Zealand Sign Digital Economy Partnership Agreement Electronically
    • June 14, 2020
  • 3
    • Technology
    Apple services deliver powerful features and intelligent updates to users this autumn
    • June 12, 2025
  • 4
    • Technology
    New SIA-NUS Corporate Laboratory To Spur Digital Innovation In Singapore’s Aviation Sector
    • January 20, 2022
  • farmer 5
    • Environment
    • People
    Food Systems Aren’t Meeting Global Needs. Consumers And Farmers Can Change It Together
    • October 29, 2020
  • new york city 6
    • Cities
    • Scapes
    The Best Views In New York
    • November 10, 2020
  • 7
    • Lah!
    Singapore’s GDP Growth Expected To Be At 0%-1% For 2019
    • August 13, 2019
  • 8
    • Lah!
    Towards Smart And Clean Energy-Powered Service Stations
    • March 7, 2021
  • 9
    • Cities
    Factsheet: Islandwide Cycling Network (ICN) Programme To Improve Safety And Connectivity for all Path Users
    • March 9, 2020
  • 10
    • Cities
    • Lah!
    NEA Urges Vigilance As Dengue Cases Could Increase At Year-End
    • October 27, 2021
  • 11
    • Lah!
    Drawing On Design Principles To Build A 5G Future
    • June 29, 2021
  • times square new york 12
    • Economy
    • People
    The US Economy Is Reliant On Consumer Spending – Can It Survive A Pandemic?
    • September 29, 2020
Trending
  • 1
    Why climate summits fail – and three ways to save them
    • October 21, 2025
  • Bluetooth speakers 2
    Best Bluetooth Speakers Under $200 (2025 Edition)
    • October 16, 2025
  • 3
    Apple Vision Pro upgraded with the powerful M5 chip and comfortable Dual Knit Band
    • October 15, 2025
  • 4
    Apple unveils new 14‑inch MacBook Pro powered by the M5 chip, delivering the next big leap in AI for the Mac
    • October 15, 2025
  • 5
    Apple introduces the powerful new iPad Pro with the M5 chip
    • October 15, 2025
  • 6
    Singapore’s national identity excludes those who don’t look like a ‘regular family’
    • October 9, 2025
  • Smart Watch 7
    Best Smartwatches, Your Gateway to Health Monitoring and Everyday Use
    • October 5, 2025
  • Cooking pots and pans 8
    Best Pots and Pans 2025: All-Season, All-Purpose Picks for Every Kitchen
    • September 23, 2025
  • 9
    Politicians love comparing NZ’s economy to Singapore or Ireland – but it’s simplistic and misleading
    • September 21, 2025
  • Kitchen Knives - Best All-Around Picks in 2025 10
    Kitchen Knives : The Surgeons of Cooking – Best All-Around Picks in 2025
    • September 15, 2025
Social Links
dotlah! dotlah!
  • Cities
  • Technology
  • Business
  • Politics
  • Society
  • Science
  • About
Connecting Dots Across Asia's Tech and Urban Landscape

Input your search keywords and press Enter.