Singapore Airlines sees no big growth risk from Boeing 777X delays -Breaking
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© Reuters. FILE PHOTO : This is a woman walking past a Singapore Airlines (SIA), logo at a Changi airport ticketing kiosk on May 14, 2013. REUTERS/Edgar Su (Reuters) -Singapore Airlines Ltd. (SIA) is not expecting its growth plan to be significantly affected because Boeing (NYSE) Co pushed back delivery dates for its first 777X planes. This was stated by its chief executive on Thursday.
Boeing announced last month that the first 777X aircraft will not be delivered to its customers by 2025, as opposed to the earlier target of 2023. But, it maintained confidence in the programme.
According to Chief Executive Goh Choon Phong, SIA was expecting to get the first plane from the 31 777X orders it had before the delays.
He said, “At this moment I don’t believe that our growth will be severely hindered.”
“We have some flexibility in terms if making up for any possible loss of capacity,” said he, referring specifically to the airline’s fleet plans.
After posting a lower annual loss of S$962 millions ($693.63million) on Wednesday, the carrier also posted a second-half operating profit (S$10 million) as border controls eased and passenger traffic increased.
SIA estimated that passengers’ capacity in the next quarter would be 61% higher than pre-pandemic levels, and 67% more in the third quarter.
($1=S$1.3869)
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