Singapore Airlines has retired four Boeing 777-300ERs earlier than expected, as part of its wider culling of aircraft it has “deemed surplus to fleet requirements”.
In its full-year financial results, where it reported a record net loss of S$4.3 billion ($3.2 billion), the SIA Group disclosed that it would retire another 12 aircraft earlier than scheduled. This brings the total number of early retirements in the year to 45.
In total, the early retirement cost the group S$1.7 billion in impairment charges.
Apart from the four 777-300ERs, SIA Group also retired eight 737-800s that previously operated with now-shuttered regional arm SilkAir.
In November, SIA Group disclosed the early retirement of 33 jets — including seven Airbus A380s and several older 777s.
Cirium fleets data indicates mainline carrier SIA to operate a fleet of 27 777-300ERs, of which only 13 are currently in service.
The group’s fleet now stands at 162 passenger aircraft and seven freighters. Its six 737 Max 8 aircraft remain in storage, as the type is still grounded by the Singapore civil aviation authorities.
SIA in early May raised S$2 billion ($1.5 billion) in sale-and-leaseback transactions involving 11 aircraft. These comprise seven A350-900s and four 787-10s. The sale-and-leasebacks are expected to boost SIA’s war chest as it tackles the continuing impact of the coronavirus pandemic.