Manila Bulletin
October 24, 2012 Wednesday
SINGAPORE (AFP)- Singapore Airlines (SIA) said it had temporarily frozen its intake of cadet pilots, as the industry feels the impact of a slowdown in the global economy and high fuel costs.
The move is the second time in three years that the carrier has put a hold on hiring, and comes months after SIA asked some of its pilots to take unpaid leave as profits slumped.
In a statement SIA, which is considered a bellwether for the full-service airline industry said it adjusted its recruitment policy on a regular basis "on operational requirements" adding that it last recruited a group of cadets earlier this year.
"As we have temporary surplus of First Officers, we are not currently recruiting new cadets," it said but added that it would not give specifics "for reasons of commercial confidentiality."
The decision comes as the global economy suffers a slowdown fuelled by the eurozone debt crisis, a softer growth in China and a patchy US recovery.
SIA encourage its pilot in March to go on voluntary leave without pay and work for other companies. That call came as it saw net profit in the year to March slump 69 percent to Sg$336 million ($275 million) owing to high oil prices and rising competition.
Year-on-year net profit rebounded 73 percent in the first fiscal quarter to June, but SIA painted a gloomy outlook for the rest of the year.
"The global economy remains uncertain as Europe struggles to contain its debt crisis, while the Unites States faces a sluggish recovery," SIA said in July.
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