In a staff memo seen by BT, Goh Choon Phong, SIA chief executive, said that the group - comprising SIA, regional carrier SilkAir and budget airline Scoot - has seen a rapid decline in its passenger traffic and load factors in all markets since news of the virus emerged in mid-January.
"Preventive measures to conserve cash and reduce costs have been taken. Selected capital expenditure has been deferred, and we have tightened on discretionary operating expenditure," Mr Goh said in the memo which was sent to staff on Tuesday. "On the revenue side, our commercial teams are working closely with tourism agencies and travel partners all around the world to aggressively drive sales, and jointly promote air travel to and through Singapore," Mr Goh said.in its global network in the months of February through May, in response to weak demand caused by the virus situation.
This was due to the decline in air travel demand as a result of the Covid-19 outbreak, and the impact was amplified by the Chinese New Year travel peak which occurred in February 2019, CAG added.
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