×
Home Companies Industry Politics Money Opinion LoungeMultimedia Science Education Sports TechnologyConsumerSpecialsMint on Sunday
×

Singapore Airlines to cut capacity, ground planes

Singapore Airlines to cut capacity, ground planes
AP
Comment E-mail Print Share
First Published: Mon, Feb 16 2009. 03 44 PM IST
Updated: Mon, Feb 16 2009. 03 44 PM IST
Singapore: Singapore Airlines Ltd said it plans to reduce flights and ground more than a dozen planes as people travel less amid the global economic slowdown.
The carrier said it will reduce capacity by 11% between April and March 2010 from the previous twelve months and decommission 17 aircraft after air cargo shipments fell 20% recently.
“The drop in air transportation has been sharp and swift,” the company said in a statement on Monday. “We have 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% as it flew 4.2% fewer passengers.
The airline said it met with worker unions on Monday to discuss voluntary leave without pay, voluntary early retirement and shorter work months. Managers will cut their salaries first if necessary, the carrier said.
“We will contemplate retrenchment only as a last resort, but we do not have the luxury of time,” the company said. “We need to agree and act on some measures quickly so that we can push back the point of retrenchment as far as possible.”
Comment E-mail Print Share
First Published: Mon, Feb 16 2009. 03 44 PM IST