Loading
23-Feb-2012 8:26 AM

Singapore Airlines Cargo cuts freighter capacity by 20%

Singapore Airlines Cargo has reduced (22-Feb-2012) freighter capacity by 20% in response to continuing weakness in demand and high fuel prices. Capacity reductions were implemented recently and will continue into the northern summer operating season. [more - original PR]

Singapore Airlines Cargo: "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. 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 freight operations to better match capacity to demand," Tan Kai Ping, CEO. Source: Company Statement, 22-Feb-2012. 

Want More News Like This?

CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More