Singapore Airlines Group yesterday stated that they’ll be cutting around 4,300 positions across the group’s airlines which include Singapore Airlines, SilkAir and Scoot. The airline cites the latest job cuts due to the long road ahead for the demand for air travel to recover as the COVID-19 Pandemic significantly impacted the industry.
However, the group anticipates that the actual impact would only be for roughly 2,400 positions due to the fact that the group took measures in March 2020 to freeze recruitment, open vacancies that weren’t filled, early retirement schemes for pilots and ground staff and voluntary release scheme for cabin crew have eliminated roughly 1,900 positions. Bringing the need to cut 4,300 positions to an expected reduction of roughly 2,400 positions needed to be eliminated in Singapore and overseas stations.
They added that the Singapore Airlines Group unlike other carriers is more vulnerable due to the fact that they don’t have a domestic market as other carriers are seeing a recovery primarily on their domestic markets which is a disadvantage for the group.
Singapore Airlines Group Passengers Carried (‘000)
The above chart looks at the YoY change per month for the Group which shows the significant fall in passengers carried among the group’s airlines YoY for each month. The airline saw a decline of passengers carried on average by over 99% between April and July 2020 when compared with the same period in 2019.
For the Financial Year 2020/21, the group expects to operate below 50% of its capacity when compared to pre-pandemic levels.
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