Yes, that is exactly why. This issue has been discussed extensively in many boards. SQ is an industry leader and they took a risk. As with risks, some pay off, some dont. SQ was expecting to have a larger cargo load to even break even. It did not work out for them. Look for them to phase out the 345 within 2 years. Their partner company (Virgin, of whom they own 49%) is still very Airbus friendly (Branson loves Airbus for domestic reasons. He likes that they are local and bring employment to Britain). So, a placement/trade their is possible. However, when I last heard about it, Boeing was proposing to take them and dispose of them independently.