The once-in-a-century pandemic crisis has sparked a meltdown in SIA share price. Over the decades, SIA share price had endured the threats from Asia Financial Crisis (1997), 9/11 terrorist attacks (2001), SARS (2003) and the Great Financial Crisis of 2008). But the current COVID-19 crisis is unprecedented and provide a formidable challenge for the national carrier.
It seems that SIA share price is forced into a corner as various countries imposed travel restrictions and lockdowns to curb the spread of the virus. On 22 March 2020, Singapore government barred all short-term visitors from entering or transiting through Singapore. The latest measure will be the final nail in the coffin for SIA share price.
The slew of border control restrictions had led to SIA cutting flight capacity. At this point of writing, SIA Group had slashed 96% of its capacity till end April and grounded