More job losses expected for Singapore Airlines, say industry watchers

SINGAPORE: Over almost five decades, Singapore Airlines gained a reputation as one of the world’s best carriers, flying to 66 destinations worldwide with a fleet of more than 130 aircraft.

Professor Jochen Wirtz, the vice dean of graduate studies at the National University of Singapore Business School, described payroll as a “big cost item” for the airline.“If you can push those down, you save a lot of money,” added Prof Wirtz, the co-author of two books on SIA.“We are yet to see the bottom in the aviation industry. Next year will likely bring unspeakable damage to many airlines.”Mr Shukor noted that the layoffs would help SIA “remove excess fat”.

He added that SIA Group currently operates only 8 per cent of its capacity compared to pre-pandemic levels, and expects it to be at less than 50 per cent at the end of the financial year. In addition, SIA would have to rethink its business model of catering to business travellers, he added.

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

Singapore Airlines Group to cut about 4,300 jobs as COVID-19 batters aviation industryThe number of employees affected, however, may be reduced to about 2,400, after taking into account recent moves like a hiring freeze and ...
Источник: ChannelNewsAsia - 🏆 6. / 66 Прочитайте больше »

Stocks to watch: Singapore Airlines, Oxley, AEM, Ossia, Sabana ReitSINGAPORE (THE BUSINESS TIMES) The following companies saw new developments that may affect trading of their securities on Friday (Sept 11):. Read more at straitstimes.com.
Источник: The Straits Times - 🏆 8. / 63 Прочитайте больше »

Stocks to watch: Singapore Airlines, Oxley, AEM, Ossia, Sabana ReitTHE following companies saw new developments that may affect trading of their securities on Friday: Read more at The Business Times.
Источник: BusinessTimes - 🏆 15. / 51 Прочитайте больше »