Singapore Airlines establishes separate cargo airline
As of July 1, Singapore Airlines’ cargo division became a separate all-cargo airline within the Singapore Airlines Group.
Singapore Airlines Cargo Pte Ltd (SIA Cargo) is a wholly-owned subsidiary of Singapore Airlines Limited (SIA) and will assume all the cargo operations of SIA.
Under an agreement concluded with Singapore Airlines, SIA Cargo will market the entire belly-hold space of SIA’s passenger aircraft fleet.
Ownership of nine B747-400 Freighters, known as Mega Arks, operated by SIA – are being transferred to SIA Cargo for its operations.
Cargo has always been a critical component of SIA, with cargo revenue now representing about 20 percent of SIA’s revenue.
“SIA Cargo is positioning itself to play a bigger role as the critical link in an increasingly complex logistics chain. We plan to grow our capacity at an average rate of ten percent a year, by increasing our B747-400F fleet to 17 over the next five years,” said Michael Tan, SIA Cargo Chairman.
SIA Cargo will have a staff of 650 – 250 in Singapore and the other 400 based around the world.
Since 1998, SIA has been placed as the third largest air cargo carrier in terms of international freight tonne kilometres flown.
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