Singapore

Singapore Airlines: No layoffs. At least for now.

SINGAPORE, Aug 1 (Reuters) - Singapore Airlines, the world's second largest airline by market value, has no plans to cut jobs or further reduce flights, its chief executive said, according to a Straits Times newspaper report on Saturday.

SIA on Thursday posted its first quarterly loss in six years and warned it could report a loss for the financial year ending March 2010 if tough conditions continued.

"We do not foresee the need for further cuts in our scale of operations unless the situation worsens," CEO Chew Choon Seng told the paper on the sidelines of the firm's annual general meeting on Friday.

"For now, what we have done is in line with the business plan."

Singapore's flag carrier said in February it would cut overall capacity by 11 percent and ground 17 aircraft in the financial year ending March 2010. The firm has also introduced pay cuts and reduced working hours for staff.

An SIA spokeswoman said on Saturday she could not immediately confirm her CEO's remarks in the Straits Times.

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