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Singapore Airlines states yields improved in 3Q2009, but will remain negative for the rest of 2009

7-Oct-2009 11:12 AM

Singapore Airlines stated its yields have improved in 3Q2009, but are likely to remain negative until the end of 2009 (Dow Jones/Reuters, 06-Oct-09). The carrier has no plans to further reduce capacity, as load factors have improved to 80% in Sep-2009, due to an improvement in Premium travel, compared to 68.2% in Aug-2009 and 69.7% in Jul-2009. CEO, Chew Choon Seng stated longer term recovery is dependent on macroeconomic conditions. Mr Chew also confirmed SIA is not in talks with China Eastern Airlines regarding plans to make an investment in the Chinese carrier.

Singapore Airlines: "The trends are moving in the right direction, but we are not out of the woods yet. We hope it will hold, but it's hard to tell," Chew Choon Seng, CEO. Source: Dow Jones/Reuters, 06-Oct-09.