Singapore Airlines to cut capacity 11 per cent
Singapore Airlines says it plans to cut capacity and ground more than a dozen planes as demand for travel and cargo plummets.
The carrier said it will reduce capacity by 11 per cent between April and March 2010 and decommission 17 aircraft after air cargo shipments fell 20 per cent recently.
The company said in a statement Monday it has to “face the reality that 2009 is going to be a very difficult year.”
Singapore Airlines said last month that it planned to cut flights to the US, Europe and Asia as demand dried up. The airline said last week its October-December profit fell 43 per cent as it flew 4.2 per cent fewer passengers.
The airline says it met unions on Monday to discuss voluntary leave without pay, early retirement and shorter work months.
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