SIA Cargo Cuts Freighter Capacity By 20%
Source: Singapore Airlines Cargo
Singapore Airlines Cargo has reduced freighter capacity by 20% in response to
continuing weakness in demand and high fuel prices.
The capacity reductions were implemented recently and will continue into the
Northern Summer operating season which starts late next month.
“The air cargo market has shown weakness for the past nine months, and the
depressed demand that we are seeing across all markets gives us little reason to
be optimistic about the near-term outlook,” said SIA Cargo President, Mr Tan Kai
“With no improvement expected in the first half of this calendar year, and with
stubbornly high fuel prices pushing up costs, we have taken appropriate action to
reduce our freighter operations to better match capacity to demand.”
SIA Cargo has a fleet of 13 Boeing 747-400 Freighters. The capacity reductions,
which are mainly for long-haul services, have led to a corresponding reduction in
the number of flying hours for each aircraft.
SIA Cargo will continue to closely monitor market conditions and will stay nimble
in aligning capacity deployment to demand.