SIA May Fail to Fill Front Cabin With Banks Cutting Back

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http://www.sfgate.com/business/bloomberg/article/Cathay-Singapore-Air-May-Fail-to-Fill-Front-4209813.php

Cathay Pacific Airways Ltd. and Singapore Airlines Ltd. are spending $207 million fitting flat- bed seats and larger TV screens in business-class.

However, finding passengers to fly them may be a challenge.

Sales at the front of the cabin fell short of its expectations in December, Cathay Pacific said last week.

Wall Street’s cost cuts and dismissals, which have helped erase more than 300,000 financial-industry jobs in the past two years, aren’t over yet as Citigroup Inc. and Morgan Stanley announced a combined 12,600 job cuts in the past month.

“When financial institutions are firing people, traffic and profits at airlines like Cathay and Singapore Airlines are affected because they are known for serving premium passengers like bankers,” said Li Lei, a Beijing-based China Minzu Securities Co. Ltd. analyst.