How should Singapore bail out SIA?

[face the facts]

Why is an airline speculating in oil futures?

One of the many mysteries in Sinkieland, just like certain town councils dabbling in 'investments'.

same same as temasek la....
speculate correctly all the senior management take fat bonuses, speculate wrongly, all act blur

 

[Loofydralb]

If public funds are used to bail out SIA then their pilots should be paid bus driver salaries, stewardesses be paid waitresses, aircraft engineers be paid car mechanic and their managers be paid same as macdonald managers.
And citizens ride free twice a year while all others pay international market prices.

 

[SalahParking]

SIA speculated in swaps collars and brent futures...why brent? not wti?...because CFO is angmo from britian..

Now WTF you place a foreigner in CFO position to gamble company money.

 

[Chase]

‘Overhedging’ Oil Prices Lands Some Global Airlines in Further Trouble

https://www.wsj.com/articles/overhe...lobal-airlines-in-further-trouble-11589555843

 

[A Singaporean]

10000 SIA staff goes on unpaid leave
https://www.hcamag.com/asia/news/general/10000-sia-staff-to-go-on-unpaid-leave/217813

To go unpaid leave is not having to pay retrenchment benefits and hope you leave on your own.

 

[Narong Wongwan]

If public funds are used to bail out SIA then their pilots should be paid bus driver salaries, stewardesses be paid waitresses, aircraft engineers be paid car mechanic and their managers be paid same as macdonald managers.
And citizens ride free twice a year while all others pay international market prices.

Well said! I 2nd that!

 

[Narong Wongwan]

SIA speculated in swaps collars and brent futures...why brent? not wti?...because CFO is angmo from britian..

Now WTF you place a foreigner in CFO position to gamble company money.

If WTI wouldn’t it be worse? It’s went to negative.
maybe now losses in billions

 

[Narong Wongwan]

Beside MRT and Hospitals and SIA staff recruited to Gong Cha to sell bubble tea. Ask your SIA crew friends if you dun believe me

 

[bushtucker]

Beside MRT and Hospitals and SIA staff recruited to Gong Cha to sell bubble tea. Ask your SIA crew friends if you dun believe me

As social distancing ambASSadors?

 

[Narong Wongwan]

As social distancing ambASSadors?

store manager positions but for 3-6 months duration only.....specially created posts for SIA crew?

 

[red amoeba]

Why shld Singaporeans save SIA when they have been fawning over ang mohs and charging us exorbitant prices ? Ask the fawned Ang moh to save. LKY said before he can demolish SIA and build another airline so let’s do it.

 

[SalahParking]

If WTI wouldn’t it be worse? It’s went to negative.
maybe now losses in billions

the pt is why put angmo in charge, and he singularly collapse the airline with long hedges... normal ly they hedge 18 months on a declining wedge, with just collars and swaps on jetfuel...buy added brent as diversification...this was unnessary and high risk.

 

[Chase]

The carrier also posted a substantial 710 million Singapore dollar loss as a result of ineffective fuel hedging contracts that matured during the last fiscal year.

Singapore Airlines has a hedging policy very different to those of many carriers. They are the only carrier hedging their fuel needs up to 60 months in advance, and the sudden drop in the price of crude oil caused by the COVID-19 pandemic is likely to cause significant losses for the airline in the fuel hedging department until 2025.

At the end of January 2020, Singapore Airlines had hedged 79% of its fuel requirements for February and March at an average price of $76 per barrel, the Singapore Business Times reported. For the full fiscal year ending on March 31, the airline had hedged 73% of its fuel needs at a price corresponding to $58 per barrel.

After the COVID-19 outbreak, the price of crude oil collapsed to reach a record low — close to $10 per barrel — and it is now trading close to $30 per barrel. Singapore Airlines has already hedged 59 percent of its fuel needs for the next four years at prices above $50 per barrel, meaning the airline is vastly overpaying for the time being.

The airline has said it expects potential fuel hedging losses for 2.6 billion Singapore dollars for the next fiscal year.

https://airlinegeeks.com/2020/05/17...s-heavy-losses-over-ineffective-fuel-hedging/

 

[winnipegjets]

the pt is why put angmo in charge, and he singularly collapse the airline with long hedges... normal ly they hedge 18 months on a declining wedge, with just collars and swaps on jetfuel...buy added brent as diversification...this was unnessary and high risk.

Next time, SIA will put Ah Neh in charge.

 

[syed putra]

Next time, SIA will put Ah Neh in charge.

 

[winnipegjets]

SIA should buy oil futures now ...cheap and then make money off it.

SIA can be oil futures trader.

 

[Chase]

wah rao! Even SIA directors have no faith in SIA? This is betrayal!

https://www.straitstimes.com/busine...irectors-opt-not-to-subscribe-for-rights-mcbs

Sack them!

 

[laksaboy]

If SIA can be trusted, then Singtel and SPH etc can also be trusted.

Is this year's F1 race still on? SIA spent a fortune to be its proud sponsor.

SIA ties up with S'pore F1 race for 2 more years
https://www.straitstimes.com/sport/formula-one/sia-ties-up-with-spore-f1-race-for-2-more-years

 

[Chase]

If SIA can be trusted, then Singtel and SPH etc can also be trusted.

Singtel got conned in India. Will need to write-off their investments in the next few years.

SPH badly needs a bailout now because they have a lot of properties exposure worldwide.

 

[Chase]

To be honest, the best SIA girls are those from Malaysia.