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.
Excluding the energy sector, GDP fell by 1.5 per cent year-on-year in the 1st quarter, against an increase of 3.6 per cent last year compared to Q1 2018.
The Board of the Central Bank of the UAE (CBUAE), has decided on additional measures within the Targeted Economic Support Scheme (TESS), launched initially in March 2020 to further enhance the capacity of the banking sector to support the economy.
The current developments and future prospects of the global oil markets were deliberated on Friday by the oil ministers of the UAE, Saudi Arabia, Kuwait, Bahrain, Oman and Iraq.