Cabin crew inside an aircraft of Singapore Airlines in North Charleston, US. File/Reuters
Singapore Airlines warned passenger capacity may remain at less than half of pre-pandemic levels by its March 2021 year-end after slumping to a S$1.12 billion ($817 million) first-quarter net loss due to a sharp decline in demand.
Singapore Airlines and Malaysia Airlines have signed a preliminary agreement to explore a wide-ranging strategic partnership that could include more codeshare agreements as well as cargo and aircraft maintenance, the companies said.
Hotel occupancy rates of Singapore have climbed to their highest in over a decade as travellers and business events switched from Hong Kong, where pro-democracy protests have slammed tourist numbers and wider business sentiment.
Global shares stumbled on Friday as hopes of a fiscal boost from a $1.9 trillion US stimulus plan were smothered by the prospect of stricter lockdowns in France and Germany and a resurgence of COVID-19 cases in China.
The Italian government has approved a new stimulus package worth 32 billion euros ($38.8 billion) to prop up the battered economy, pushing this year’s budget deficit significantly higher than previously planned.
Pakistan and Bangladesh are rationing gas and buyers across South Asia are seeking alternative fuels after spot liquefied natural gas (LNG) prices surged to record highs, government and industry officials told Reuters.