23 March 2020: In order to steam COVID-19 crises, Singapore Airlines have decided to cut 96 percent of the capacity that had been originally scheduled up to end this April. Due to this, about 138 SIA and Silk aircraft, out of the total fleet of 147 will be grounded.
With the further tightening of border controls around the world restricting free movement of people or ban air travel & without a domestic segment to cater to the Group's airlines have become more vulnerable.
Currently the picture seems blurring as to when SIA group will resume normal services again given the uncertainty over lifting the international travel ban. The resultant collapse in the demand for air travel has led to a significant decline in SIA's passenger revenues.
On the other hand, SIA is actively taking steps to build up its liquidity, and to reduce capital expenditure and operating costs. The company will aggressively pursue all measures to address the impact of the Covid-19 outbreak.