Published October 29, 2009

Too early to call global travel recovery: SIA chief

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(NEW YORK) Singapore Airlines (SIA), the world's biggest carrier by market value, said it was too soon to say whether a rebound in air travel last month marked the beginnings of a long-term revival in demand.

Mr Chew: Says it remains to be seen whether the current uptrend persists

'There is not enough evidence yet to conclude that we are back on a firm trail to recovery,' chief executive officer Chew Choon Seng said on Tuesday at a Star Alliance press conference in New York. Whether the current uptrend persists 'remains to be seen', he added.

Cathay Pacific Airways chief executive officer Tony Tyler has also said that he is 'cautious' about the prospects for airlines, as the global recession continues to dampen demand.

SIA last month filled 80.9 per cent of its total available seats, the highest tally this year.

'The bottom has been reached,' Mr Chew said. 'Demand has stabilised and even started to grow from September,' he added.

It will be possible to say whether this is a sustained recovery only after as long as nine months, Mr Chew said.

SIA and Cathay have both cut flying and grounded planes as the worst recession in six decades threatens to push the industry to an US$11 billion loss this year.

SIA has said it may post its first annual loss since going public in 1985 because of the demand slump. -- Bloomberg