SIA Cargo to park freighter

5/28/2013 9:00:56 AM

Singapore Airlines Cargo is to park another Boeing 747-400 freighter aircraft as a result of a continuing capacity surplus.   The aircraft will be put into storage in June 2013 and under current plans will remain out of service until May 2014. The aircraft will be put into storage in Victorville, California.   This will be the second freighter aircraft placed in temporary storage. The first was in December 2012.   “Fuel prices remain high and we continue to see weakness in the air cargo market due to industry-wide overcapacity, which has put pressure on rates,” said SIA Cargo President, Mr Tan Kai Ping.   “We will continue to monitor market conditions closely and make further capacity adjustments as required.”   SIA Cargo will have an operational fleet of 11 B747-400Fs once the second freighter is put into storage. Air Transport News

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