Hit by the global recession and the drastic drop in transport demand, Singapore Airlines Ltd (SIA) had earlier in the year decommissioned 17 aircraft in the financial year starting in April, as the carrier prepared to face a “very difficult†2009. The airline also slashed routes, merged flights, cut fuel surcharges three times since September and reorganised its network in a bid to balance supply and demand requirements. According to a SIA Cargo spokesperson, the … [Read more...] about SIA Cargo weathers the storm
H1N1
First quarterly loss in six years for SIA
Singapore Airlines has posted its first quarterly loss since 2003, with a S$307.1 million (US$212.6 million) loss that compared to a S$358.6 million profit in the fiscal first quarter of 2008-09. The global economic downturn, swine flu and unfavorable fuel hedges dragged the carrier into the red. Group revenue during the quarter ended June 30 dropped 30.5 per cent to S$2.87 billion while expenses were reduced 15.8 per cent to S$3.19 billion. A S$287 million loss on fuel hedges partially offset … [Read more...] about First quarterly loss in six years for SIA
April turmoil deflates Thailand’s volume
Cargo, passenger and aircraft traffic through Thailand’s six main airports continued to decline in April as political turmoil heightened by rioting in Bangkok further added to the slowdown already in process due the global economic crisis. Total cargo volumes in the month shrank 26 per cent to 82,727 tonnes year on year, while passenger throughput fell 12 per cent to 4.43 million pax and aircraft movements fell 10 per cent to 30,433, according to statistics compiled by Airports of … [Read more...] about April turmoil deflates Thailand’s volume
