The effect of Covid-19 on the global economy is unprecedented. Entire economies have ground to a standstill and many companies are in the fight for survival.
Hardest hit is the aviation industry. Legacy carriers such as Cathay Pacific, Emirates and Qantas have grounded planes and furlonged staff. Airlines all around the world are in hibernation mode, hunkering down for the cold winter hoping to emerge stronger when the virus clears and the new Spring arrives.
Our National Carrier is not spared. Hampered by the lack of a domestic routes, SIA is dependent on passenger traffic passing through Singapore as a transit hub. With countries closing imposing border controls, it has seen its passenger numbers dwindle to a trickle.
Immediate measures have been taken to reduce operating costs. This includes cutting 96% of their flights and instituting compulsory no pay leave and pay cuts across the board....