"Last year we were asked almost every single day why don't we rip out business class seats and put more economy class seats in because business travelers are trading down to economy," said Ionides. "We have to take a long-term focus and we are seeing business traffic demand, in particular, pick up. So it's looking good."
Singapore Airlines reported a 19.7% rise in quarterly profit on Tuesday, rebounding from two straight quarters of losses. Ionides said reducing capacity helped prevent further losses for the carrier, but added that capacity will be restored this year.
"We had reduced capacity quite a lot. Over the course of this financial year we reduced capacity by about 11% to match demand, " he said. "The good news is that with demand returning quite strongly we're able to start adding that capacity back, so we're restoring services on some areas where we've cut ."
In addition to restoring capacity, the carrier is also expected to reinstate flight services that were cut during the economic crisis.