22 Feb '12, 10am

SIA cuts cargo capacity by 20% on weak demand, high fuel price

SIA Cargo has decided to cut capacity by 20 per cent after a prolonged dip in demand for air freight. -- ST PHOTO: ASHLEIGH SIM By Karamjit Kaur SIA Cargo has decided to cut capacity by 20 per cent after a prolonged dip in demand for air freight. The market has been weak for the last nine months and there are no signs that it will improve, said SIA Cargo president Tan Kai Ping. He said: 'The depressed demand that we are seeing across all markets gives us little reason to be optimistic about the near-term outlook.' With no improvement expected in the first half of the year and with stubbornly high fuel prices pushing up costs, the airline has decided to take action, he said. Please enable JavaScript to view the comments powered by Disqus. blog comments powered by Disqus

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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