According to CGS-CIMB analyst Raymond Yap, the spread may hurt SIA’s long-haul routes, and cause its share price to fall even further.
SINGAPORE (Mar 13): Since the beginning of the Covid-19 outbreak in Singapore, Singapore Airlines (SIA) has suffered a 22% plunge in share prices, tracking the broad-based decline in flight counts and passenger volumes.
With the pandemic spreading rapidly across Europe, Italy and the US, SIA is set for a tough time ahead. SIA’s mainline and SilkAir have cuta total of 15.6% of available seat kilometre capacity, due to the demand in contraction.
