How should Singapore bail out SIA?

[birdie69]

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.

I thought not only singtel, many companies were conned but not reported. Was our garment was conned to sign CECA, no?

 

[birdie69]

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.

Why save SIA, they paid millions dollar to a incompetent CEO to bring down SIA?

 

[sfugel]

Why save SIA, they paid millions dollar to a incompetent CEO to bring down SIA?

This topic is getting very old.....can move on to others please...

 

[laksaboy]

Why save SIA, they paid millions dollar to a incompetent CEO to bring down SIA?

If GLC CEOs appointed by PAP govt are not incompetent, I worry.

LKY might have kicked the bucket in 2015 but his odious legacy lives on. The current trajectory of this country is dim for the young kids of today.

 

[Dr Christopher Cheok C S]

SIA's NokScoot collapsed.
https://tech.sina.com.cn/roll/2020-06-27/doc-iircuyvk0710260.shtml

 

[syed putra]

Malaysua suggested bubble corridors for Malaysia, brunei, singapore, thailand but PAP rejected. China where Wuhan virus originated says bubble corridor PAP agreed.

 

[Dr Christopher Cheok C S]

SIA flags material operating loss
https://www.straitstimes.com/busine...ting-loss-in-q1-flew-just-13900-passengers-in

In addition, the lower capacity projection reduces expected fuel consumption, causing more fuel hedges to be deemed ineffective under applicable financial reporting standards. These hedges consequently need to be marked-to-market. The marked-to-market impact as at 30 June 2020 will be recognised in the Profit and Loss statement for the first quarter of FY20/21. With jet fuel prices remaining relatively low, marked-to-market losses are expected to be recorded.
https://links.sgx.com/FileOpen/opstats-jun20.ashx?App=Announcement&FileID=623786

 

[Dr Christopher Cheok C S]

Singapore Airlines: Analysts project S$740m net loss in Q1

https://www.ig.com/sg/news-and-trad...lines-may-face-s-740-million-net-loss--200717

 

[eatshitndie]

one way to bail out airlines is to convert passenger planes to cargo carriers.

 

[frenchbriefs]

They can always double down on their losses no?

Now it's at rock bottom prices,buy and keep buying all the way up and the profits will more than cover the losses,it's a idiot proof gamble how can oil prices remain so low for so long?

 

[krafty]

i believe in karma, i know of ex sia staff who were made redundant in the past even when times were good, SIA actually sacked useful and hardworking pple, left are those hedging oil for five years, this is awesome stupidity and no words to describe.

 

[Dr Christopher Cheok C S]

$1.123billion Q1 loss

https://www.businesstimes.com.sg/co...nes-reports-s1123b-loss-in-q1-due-to-pandemic

 

[A Singaporean]

This is very good news. The 61% must be very happy. Hope they all get fucked.

 

[batman1]

Close down SIA.

 

[syed putra]

Open up the borders.

 

[Dr Christopher Cheok C S]

The outlook for Singapore Airlines has gone from bad to worse
https://www.channelnewsasia.com/new...-sq-singapore-airlines-travel-bubble-13009928


The SIA Group carried only 38,000 passengers in the June quarter, a staggering 99.6 per cent decline compared to the same period last year, with an average load factor of only 10.2 per cent compared to 83.4 per cent a year ago.

There are currently only 11 weekly flights from Singapore to mainland China, including four by the SIA Group and seven from Chinese carriers.

The fuel hedge ineffectiveness charge became necessary as SIA had to adjust capacity plans for the remainder of the current fiscal year due to the slower than expected recovery of the international market, resulting in a significantly lower projected fuel uplift and therefore a higher than initially expected fuel hedge surplus.

The S$464 million is on top of a S$710 million fuel hedge ineffectiveness charge for the current fiscal year that SIA was required to incur in March, when it was anticipating a faster recovery of the international market.

The SIA Group will likely incur an annual loss of roughly S$3 billion for the year ending March 2021. It incurred a S$212 million loss in the year ending March 2020 – SIA’s first ever annual loss – due to the initial fuel hedge ineffectiveness charge.

 

[mudhatter]

You worried abt SIA?

Stinkypura as an entity will crumble sia. Note the pun.

 

[Thick Face Black Heart]

SIA is in deep fecal matter. Maybe ESND can advices them.

 

[Dr Christopher Cheok C S]

SIA still buying planes
https://www.theedgesingapore.com/ne...und-operating-expenses-aircraft-purchases-and

 

[Loofydralb]

SIA should go the way of NOL.
They are both just carriers. As long as Chnagi thrives, just like our well run PSA, Singapore is good.
This is a good time to rid SIA from citizens burden.