Asia Pacific Aviation, 18 Feb 2009
Singapore Airlines shares slumped to their lowest since May-2003 as the airline reported passenger traffic in Jan-09 fell the most in more than five years. Shares fell 4.5% to SGD9.97, extending losses this year to 11%.
Passenger traffic (RPKs) dropped 6.9% last month, while passenger numbers dropped 10% to 1.4 million. The carrier yesterday said it will cut capacity by 11% and take 17 passenger aircraft out of its fleet from Apr-09, due to weak forward bookings.
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