JOC Staff | Nov 05, 2012 7:16AM EST
Singapore Airlines will further reduce its exposure to weak freight markets next year.
SIA Cargo cut freighter capacity by 20 percent earlier in 2012 by limiting long-haul services and aircraft flying hours.
Further reductions next year will see the airline’s cargo division park one of its 13 freighters from January until May 2014, a move the company put down to weak demand and high fuel prices.
“The air cargo market remains badly depressed and the near-term outlook continues to be challenging,” said SIA Cargo President, Tan Kai Ping.
“Freight rates have declined to a level where certain flights are no longer viable. We have therefore taken this step to rationalise capacity further.”
A storage location for the freighter is currently being selected.