Singapore Airlines (SIA) has implemented a 20 percent freighter capacity reduction as the global economic slowdown continues to weaken demand and push up fuel prices.
The cargo capacity cut by the world’s second biggest airline by market value was initiated to better match demand, and will continue into the northern summer operating season starting in late March, the carrier said in a statement.
SIA, whose cargo operations use 13 Boeing 747-400 freighters and contribute about 20 percent to the airline’s sales, has registered operating losses over the past three quarters.
Singapore Airlines announced earlier this month a 53 percent decline in its third-quarter net income and forecasts little business improvement in the first half of 2012.
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