Return economy class tickets are on sale now and are available only through the SIA website.

Return trips to destinations like Bangkok, Bali and Jakarta are now going for as little as $298, inclusive of all taxes and surcharges.

Other cities like Tokyo, Seoul and Beijing are available at $698.

Fares are listed on a per person basis, for two passengers travelling together throughout the journey. The online promotion ends next Monday

The announcement comes following a 6.1 per cent drop in SIA's passenger numbers for November, its biggest fall in more than five years.

The International Air Transport Association (IATA) has also predicted a 3 per cent drop in global traffic for 2009.