Singapore Airlines Group has announced that it will retire 26 aircraft from its fleet, after it posted a record $1.74 billion loss in the third quarter.
SIA claimed the chosen 26 aircraft to be retired are “deemed surplus to requirements”, and do not include the additional seven Boeing 777s being retired amid the liquidation of Scoot joint venture, NokScoot.
The list of aircraft due to retire from Singapore Airlines’ fleet includes seven Airbus A380s, four Boeing 777-200/200ERs, and four Boeing 777-300s.
Meanwhile, nine Airbus A320s and two Airbus A319s will be retired from the group’s SilkAir fleet.
Back in March 2018, Singapore Airlines announced it would begin a merger with its regional subsidiary SilkAir, and absorb it back into the parent company.
In the face of the pandemic, the merger is still forging ahead. Despite offloading SilkAir’s Airbus aircraft, SIA will take on the subsidiary’s Boeing 737-800/MAX aircraft, which it could put to use as soon as Q1 2021.
Following the retirements, the SIA Group will boast a total fleet, including both passenger and cargo aircraft, of 189.
Currently, 143 of its aircraft remain in storage.
It is not surprising that the group posted such a significant loss, following predictions from analysts noting that airlines such as Singapore and Cathay Pacific will likely face a longer recovery period than most airlines, as neither carrier has a domestic network to rely upon while international conditions remain uncertain.
Currently, the group is only flying at around 11 per cent of its pre-COVID capacity, and has recently announced it will be required to cut 4,300 jobs across its businesses.
