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 Company is actively taking steps to build up its liquidity, and to reduce capital expenditure and operating costs. It 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 and salary cuts for the SIA Group’s management.
