Singapore Airlines grounds most of its fleet as travel bans bite
Share:
SINGAPORE (Reuters) - Singapore Airlines Ltd announced on Monday that it would cut capacity by 96% and ground almost all of its fleet in response to coronavirus travel restrictions that the carrier said was "the greatest challenge" it had ever faced.Shares of the airline were down more than 8% by 0129 GMT, while the broader market was down over 7%.The move comes as global travel hub Singapore closed its borders to travellers and transiting passengers in an effort to stem the spread of the..