The mainboard-listed company is now aggressively pursuing cost-cutting measures, including salary and fee cuts for company directors and the SIA group's management, and a voluntary no-pay leave scheme for certain management positions.
It is also engaging with unions on additional cost-cutting measures, with more steps to be taken imminently, it said. The airline is currently in discussions with aircraft manufacturers to defer payment and deliveries of upcoming aircraft. It has drawn on its lines of credit to meet its immediate cash flow requirements, and is in talks with several financial institutions for future funding requirements, it said.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
COVID-19: Singapore Airlines slashes 96% of capacity, grounds most planesSINGAPORE: Singapore Airlines will cut 96 per cent of its capacity which was originally scheduled up to the end of April, said the airline on ... Yo ground those IGCSE exams in HK too 👍👍👍👍 Just bear with the current unfavorable situation.. stay strong💪! We can make SIA great again after the whole crisis is over. Just need more n take longer time, be patient. Best time for maintenance n staff for more training. All will be well! 🙏
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
SIA looking to store some planes as travel demand evaporatesSINGAPORE Airlines (SIA) is studying storing some of its planes - such as its double-decker Airbus A380s - as it cuts capacity from its network amid a dearth of travel demand, The Business Times understands. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
COVID-19: Singapore Airlines slashes 96% of capacity, grounds most planesSINGAPORE: Singapore Airlines will cut 96 per cent of its capacity which was originally scheduled up to the end of April, said the airline on ... Yo ground those IGCSE exams in HK too 👍👍👍👍 Just bear with the current unfavorable situation.. stay strong💪! We can make SIA great again after the whole crisis is over. Just need more n take longer time, be patient. Best time for maintenance n staff for more training. All will be well! 🙏
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Emirates to ground entire passenger fleet and cut wages
Source: TODAYonline - 🏆 1. / 99 Read more »
Coronavirus: Emirates to ground entire passenger fleet and cut wagesDUBAI (REUTERS) - Emirates, one of the world's biggest international airlines, will ground its entire passenger fleet this week and cut staff wages by as much as half because of the coronavirus and its impact on travel demand.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
SIA looking to store some planes as travel demand evaporatesSINGAPORE Airlines (SIA) is studying storing some of its planes - such as its double-decker Airbus A380s - as it cuts capacity from its network amid a dearth of travel demand, The Business Times understands. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »