Singapore Airlines (SIA) will do whatever it takes to ensure its long-term viability, the carrier's chief executive officer Goh Choon Phong said, a day after SIA reported losses of $138 million between January and March, its first quarterly loss in five years.
"We will take bold actions to address both revenue and cost," he said, as the airline embarks on a major review of all its operations.
The review will be carried out by the newly created Transformation Office, and will include examining staffing, fleet and network development, and products and services.
While jobs will not be cut, positions may become redundant as work is redesigned, Mr Goh said. Staff will be retrained to pick up new skills and where necessary, be redeployed.
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The review will not impact customers, said Mr Goh, who promised that they can be assured they will always be at the centre of whatever the airline does.
SIA is not alone in reporting sliding profits. Cathay Pacific has embarked on a three-year revamp to cut costs after reporting its first full-year loss in eight years.
In a commentary, the airline is urged to take a leaf from SIA's book and go into budget airlines, which are starting to contribute to SIA's bottom line.