Money
Clipping the wings: SIA says goodbye to iconic A380
Singapore Airlines is saying goodbye to several A380 superjumbo aircraft
Singapore Airlines has revealed that it’s cutting several Airbus A380 aircraft from its fleet, as it tries to bounce back from the financial impact caused by COVID.
Two of the iconic superjumbo’s have been spotted getting demolished in Singapore, another is set to be taken out of service.
According to Singapore Airlines, it will now take around two months to part out the aircraft, with the company’s maintenance department to now work to dismantle all of those aircraft and utilise parts on other in-service aircraft.
What will be salvaged and saved?
Some reusable aircraft parts such as landing gear and engines will be salvaged alongside internal components, which could be used as spare parts on the airline’s remaining A380 fleet.
This will allow the airline to save money in the future should a spare part be needed.
The aircraft parts will be put towards the Singapore Airlines Upcycling Project which launched earlier this year.
Upcycling is when a used part is turned into something of a higher value. Examples of this could be tin cans that are turned into airplane models or when an aircraft fuselage is turned into key tags.
How many aircraft in total will be taken out of service?
Singapore Airlines is scrapping a total of three aircraft at the Changi Exhibition Center.
The two standout aircraft are the Airbus A380s under registrations; 9V-SKG and 9V-SKH.
According to ch-aviation.com, the two jets are aged around 13 years.
Singapore Airlines scrapped its first A380s after just a decade of service.
Money
France receives lowest credit rating due to crisis
France’s credit rating downgraded to record low amid political and fiscal crisis, raising concerns over debt and stability
France’s credit rating downgraded to record low amid political and fiscal crisis, raising concerns over debt and stability
– Fitch Ratings downgraded France’s credit rating to A+, citing political instability and fiscal challenges.
– New Prime Minister Lecornu must secure budget approval amidst rising deficit and potential no-confidence vote.
Fitch highlighted political instability as a key factor undermining fiscal reforms, with France’s debt now at €3.3 trillion, or 113.9% of GDP.
The budget deficit increased to 5.8% of GDP and is expected to rise, posing challenges ahead.
Political Instability
The new prime minister faces a divided parliament and must secure budget approval by October 7.
The far-left plans a no-confidence vote against Lecornu, complicating further cooperation on legislative reforms, with S&P Global hinting at a potential downgrade.
Money
ANZ job cuts spark banking clash
ANZ plans to cut 3,500 jobs, sparking debate on the future of Australia’s banking sector and employment dynamics.
ANZ plans to cut 3,500 jobs, sparking debate on the future of Australia’s banking sector and employment dynamics.
ANZ has announced plans to cut 3,500 staff and 1,000 contractors over the next year, triggering a fierce debate between business leaders, unions, and government about the future of Australia’s banking sector.
The decision raises wider questions about the resilience of the business community and the role of politics, productivity, and technology in shaping employment.
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