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Added to the above, SIA is not Singapore, and it's profitability and those of individual companies, share counters if you like, are just part of the economy of the whole of Singapore. Your yardstick as examples are not sufficient enough to say whether we are about to go into recession or otherwise. There are many factors to take into consideration which economists use as indicators.
Don't get me wrong, I never say we are or not going into a recession. I am arguing on the points you raised.
obviously SIA is not Singapore..but do you think SIA is a relatively good proxy of SG? like I said recession is the cumulative effects of various factors.
i reiterate that we will likely see a SG recession in 2013.