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Sovereign Wealth Funds Briefing - Categorized | Market, Performance

Singapore Airlines to cut 17% of fleet

Posted on 17 February 2009

From AFP: Singapore Airlines, 54 percent owned by Singapore sovereign wealth fund Temasek Holdings, said Monday it will cut 17 percent of its fleet and is exploring other cost-saving measures amid a global economic slump which has hit travel and cargo demand.

The airline, one of Asia’s major carriers, said in a statement that it will decommission 17 passenger aircraft over the financial year from April 2009 to March 2010, and was not ruling out the possibility of deferring plane orders. …. Full Article: Source


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