Singapore Airlines will ground most of its aircraft until the end of April as it cuts capacity by 96 percent due to the COVI-D-19 crisis.
The Singaporean airline group announced Monday it will ground 138 of its 147 SIA and SilkAir aircraft and 47 of the 49 planes operated by low-cost offshoot Scoot.
The additional suspensions, prompted by the closure of Singapore’s borders to even transit passengers, will take place between now and March 30.
The group will be flying to just five destinations: Brunei, Guangzhou, Shanghai, Beijing and Jakarta.
It also revealed it was drawing on lines of credit to meet immediate cash flow requirements while it discusses future funding with several institutions.
READ: Emirates leaves lifelines open as it cuts most passenger services.
Singapore said it was unclear when it would be able to resume normal services given the uncertainty about when stringent border controls would be lifted.
“Even during this crisis, our customers and staff remain our top priority,’’ SIA chief executive Goh Choon Phong said.
“We continue to focus on getting as many of our passengers as possible back home safely and protecting the jobs of our people.
“I would like to thank the SIA Group staff for their commitment and sacrifices during this extremely challenging time.
“I would also like to apologize to our customers and thank them for their patience and understanding, as we grapple with this unprecedented situation.
“We have more than doubled the handling capacity at our service centers and sales offices, and (we’re) trying to help as many of you as soon as possible.”
SIA said it was taking steps to build up its liquidity to get it through the crisis and said it would release details when the measures were firmed up.
It is also reducing capital expenditure and operating costs and has vowed to aggressively pursue all measures to address the impact of the COVID-19 outbreak.
Measures taken so far include ongoing discussions with aircraft manufacturers to delay aircraft deliveries and payments as well as management salary cuts and a voluntary no-pay leave scheme for some managers.
“Given the worsening situation, the unions have been engaged on the additional cost-cutting measures that are needed and more steps will be taken imminently,’’ it added.
