Business Solutions

Cost-Cutting Measures Taken By SIA To Alleviate The Effects of COVID-19

The tourism industry has taken a significant hit due to the global travel restrictions and economic impact of the COVID-19 pandemic. In fact, the Singapore government temporarily suspended the operations of Terminal 4 to adapt to the decline of flights. The national carrier Singapore Airlines (SIA) was heavily affected by the pandemic too. It is currently operating at 7% of its scheduled capacity. The drastic drop of the travel demands led to a net loss of S$1.12 billion in SIA’s