The Covid-19 outbreak has created a serious crisis for the airline businesses across the world. In the next few days more than half of the 24,000 commercial airlines flying around the globe will be grounded till mid-April, the industry fears. As on date, around 20-25 per cent of the aircraft flying globally till a week ago have been grounded across countries in Europe, America, Canada, Australia, UAE, Singapore among other countries.
Singapore Airlines (SIA) says it will be cutting 96 per cent 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 move, the company says, 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. "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 company said in a statement on March 23 adding that "the resultant collapse in the demand for air travel has led to a significant decline in SIA’s passenger revenues."
23/03/20 Ashish Sinha/Business world
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Singapore Airlines (SIA) says it will be cutting 96 per cent 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 move, the company says, 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. "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 company said in a statement on March 23 adding that "the resultant collapse in the demand for air travel has led to a significant decline in SIA’s passenger revenues."
23/03/20 Ashish Sinha/Business world
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