Singapore Airlines is cutting 96% of its flights
Singapore Airlines is planning to reduce its capacity by 96%. The measure currently concerns the flights planned for the next month.
The company is forced to make this decision by the fall of demand in airline travels, as well as the closures of borders by the governments across the world. 138 of Singapore Airlines 147 planes are going to remain on the ground. The carrier’s low-cost subdivision Scoot is also going to stop the operations of the major part of their operations.
The company has admitted, that its situation is difficult. The official statement declares, that SIA is facing its “greatest challenge” and is already feeling the impact of the sharp decline in profits.
The SIA is currently using its credit lines to keep up with the cash flow needs. The company is also in talks with undisclosed financial organizations, discussing the possibilities of additional funding.