Published December 16, 2008

SIA Nov traffic slump biggest in 5 years

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(SINGAPORE) Singapore Airlines, the world's largest carrier by market value, reported its biggest slump in traffic in more than five years as a global recession cuts travel demand. Passenger numbers slid 6.1 per cent last month to 1.54 million, the airline said in a Singapore stock exchange statement yesterday. That's the biggest drop since a 7.6 per cent decline in August 2003, according to data compiled by Bloomberg.

SIA's traffic has declined in two of the past three months as financial firms cut business travel and people cancel leisure trips. Global air traffic will decline 3 per cent next year, the first drop since 2001, the International Air Transport Association has said. The airline gained 0.2 per cent to $11.06 in trading yesterday. The shares have declined 36 per cent this year. -- Bloomberg