Serious SIA Is Making 1.5mil loss on the daily basis

[swimorsink]

SIA is known as the scholar's graveyard. Scholars will fight tooth and nail not to be posted there for obvious reasons. An SAF Chief was transferred there as he could not control his wife. He did not go anywhere and he was posted to engineering and not the sexy part of SIA. You have to be lifer and you must go thru various disciplines before you touch leadership. You also do not have to have 2nd upper. After 5 years everything is on merit. SIA has fought NTUC and even Lim Boon Heng posted on the board did not help. Why you think the pilots and cabin crew tend to take strike actions quite regularly in the past until old man twice has to intervene.

Temasek has used SIA to start budget airlines Tiger and appointed its own leadership team with SIA having a major stake. SIA completely ignored it until it lost its licence in Australia.

MOF knows that it cannot allow scholars to handle a company that needs to compete internationally. You cannot hide or paper over the cracks when outsiders can figure out what is happening.

Not sure how long they can keep the scholars away as the PM is weak.

Philip Yeo famously turned down old man's offer to helm SIA when he threw in his resignation letter to go to HK. Why you think he did it?

I dont know this SAF scholar or his wife personally but when his nephew got married around 2 years ago I was chatting with a few people when said scholar and his wife made their entrance. Scholar seemed friendly enough and started to chat to some of the people close to where I was.

Scholar's wife however stayed away from the people he was talking to and did not appear approachable or friendly. Maybe she was used to people acknowledging her while he was in the SAF and SIA, but it didnt happen at this dinner.

 

[Taksama_b_l]

for about 4 years SQ11 from LAX to SGP around 3am arrived in A380 ALMOST EMPTY NIGHTLY, and LHL love USA, and still subsidized for this HUGE LOSING BUSINESS for so many years. Suck USA dick like this!

Until recently abandoned:

http://viewfromthewing.boardingarea.com/2016/06/15/singapore-announces-real-details-new-us-flights/

This was the history:
http://www.airlinereporter.com/2011...80-los-angels-to-singapore-in-business-class/

During the last 4 years, only during X'mas CNY got less than but close to half full, otherwise usually only 10%~20% capacity or during low season less than 5% capacity.

OPEN SECRET!

 

[aurvandil]

These days everything seems to be a graveyard. The only thing going really well is fixing the Opposition and winning elections.

SIA is known as the scholar's graveyard.

 

[chongpangchixwings]

These days everything seems to be a graveyard. The only thing going really well is fixing the Opposition and winning elections.

Thats their bottom line I would imagine.

 

[frenchbriefs]

for about 4 years SQ11 from LAX to SGP around 3am arrived in A380 ALMOST EMPTY NIGHTLY, and LHL love USA, and still subsidized for this HUGE LOSING BUSINESS for so many years. Suck USA dick like this!

Until recently abandoned:

http://viewfromthewing.boardingarea.com/2016/06/15/singapore-announces-real-details-new-us-flights/

This was the history:
http://www.airlinereporter.com/2011...80-los-angels-to-singapore-in-business-class/

During the last 4 years, only during X'mas CNY got less than but close to half full, otherwise usually only 10%~20% capacity or during low season less than 5% capacity.

OPEN SECRET!

When u got the money why not splurge?OBOR for all your friends.only 150k per flight times 365 days a year sup sup sui lah.

 

[scroobal]

She is really piece of work. When the husband was removed from post and transferred to SIA, she called up the commercial parties she was dealing with and threatened them with a lawsuit for disclosing her dealings suspecting that it had to do with them. These commercial entities were already shocked when the Intelligence folks first approached them about her dealings. Imagine she still does not know that she wrecked her husband's career.

I dont know this SAF scholar or his wife personally but when his nephew got married around 2 years ago I was chatting with a few people when said scholar and his wife made their entrance. Scholar seemed friendly enough and started to chat to some of the people close to where I was.

Scholar's wife however stayed away from the people he was talking to and did not appear approachable or friendly. Maybe she was used to people acknowledging her while he was in the SAF and SIA, but it didnt happen at this dinner.

 

[csjcsjcsj]

Alternate Retrench by SIA:

http://www.straitstimes.com/busines...argo-within-group-some-staff-to-move-to-other

SIA to re-integrate SIA Cargo within group, some staff to move to other divisions
The re-integration with SIA Cargo is expected to be completed in the first half of 2018, said Singapore Airlines on Friday (May 19).
The re-integration with SIA Cargo is expected to be completed in the first half of 2018, said Singapore Airlines on Friday (May 19).PHOTO: ST FILE
Published
5 hours ago
Updated
4 hours ago
Ann Williams

SINGAPORE - Singapore Airlines (SIA) announced on Friday (May 19) that it will re-integrate SIA Cargo, now a wholly-owned subsidiary, as a division within the group to improve efficiency "through greater synergy with the wider SIA Group."

The re-integration is expected to be completed in the first half of 2018.

The majority of its nearly 900 employees will be retained in the new cargo division, with some staff transferred to other SIA divisions.

"For a group of staff for whom alternative job positions have yet to be confirmed, placement opportunities will be facilitated elsewhere within the SIA Group," said SIA. "The integration will provide new opportunities for staff development within the larger SIA organisation."
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SIA said it will be "business as usual from a customer perspective", as there will be no change to SIA Cargo's operations. Seven Boeing 747-400 Freighter aircraft will continue to be operated, while the Cargo Division will continue to manage the passenger aircraft 'bellyhold' space for SIA, SilkAir and Scoot.

It added that the reintegration is not expected to have a material impact on SIA's financial performance in 2017/18 financial year.

SIA announced on Thursday it had begun a wide-ranging review of its business to better position the group for long-term sustainable growth after reporting a surprise fourth-quarter loss of S$138.3 million, its first quarterly loss in five years.

One main drag was SIA Cargo's S$132 million provision for relating to a competition law case in the European Union.

SIA Cargo was a division of SIA until July 2001, when it became a separate company within the Group. SIA said that at the time, it was in the process of growing its fleet to up to 17 747-400Fs, and it was better suited to carry out its expansion as a standalone all-cargo airline.

"The airfreight market has since seen structural change, however, and SIA Cargo's freighter fleet has been 'right-sized' in recent years to the current seven aircraft while the proportion of revenue from passenger aircraft 'bellyhold' capacity has increased significantly," said SIA in its announcement.

It added that despite the smaller freighter fleet, SIA Cargo's overall capacity, including that from passenger aircraft, still grew 4-5 per cent in each of the past two financial years.

新航:各位亲爱的员工同事们,现在啊已经没有什么工作给你们再继续混下去了!所以派遣你们去做倒粪的伟大工作!不愿意接受的同事们请自己写辞职信!这样可以帮助我们公司节省遣散费哦!

 

[Ash007]

Hmmmm anyone has any idea what to invest in if not SIA? Singtel?

 

[ckmpd]

Hmmmm anyone has any idea what to invest in if not SIA? Singtel?

SIA is down 6.5% (70c) today.

More downside to come.

Go for those stocks which are selling a discount to its NAV and giving good dividends

 

[ckmpd]

I dont know this SAF scholar or his wife personally but when his nephew got married around 2 years ago I was chatting with a few people when said scholar and his wife made their entrance. Scholar seemed friendly enough and started to chat to some of the people close to where I was.

Scholar's wife however stayed away from the people he was talking to and did not appear approachable or friendly. Maybe she was used to people acknowledging her while he was in the SAF and SIA, but it didnt happen at this dinner.

Are you referring to his wife by the name of Kim?

 

[uvwxyz]

SIA is down 6.5% (70c) today.

More downside to come.

Go for those stocks which are selling a discount to its NAV and giving good dividends

Agreed, I was just going to reply him when you did. Airlines are going to find it very difficult to make good money on a regular basis these days. Too many seats to every country and not enough people to fill those seats resulting in low yields.

SIA faces intense competition from the ME Airlines in the high end segment of the industry and from Air Asia in the budget area.

It also cannot seem to get its fuel predictions and hedging correct.

Singtel is a better bet than SIA and its share price is more resilient. Dividends are also steadier and quite respectable at slightly above 4%

 

[frenchbriefs]

This airline came to become the talk of the airline industry for in flight service due to the commitment of its cabin crew during its formative years. It set the standard for good service and became a standard for other airlines to follow. Well, they have. After all these years, SIA needs to further look at how to keep its inflight service at the top. Instead of hiring paper-holder degree idiots and letting them run the company, why doesn't the company get feedback and input from the old staff who built that reputation, I am sure this group still have much to contribute.

Cheers!

That's the problem with Singaporean mindset and mentality.old fashioned and traditional.they think being the best means in terms of perfection,means the best service and standards and what not,business is about what people say,getting the best awards,the blue ribbons and what not.....

WRONG!!!!!Business is WAR!!!AND WAR HAS NO MERCY!!!Business is about the will to dominate,to crush your competition and cut their throats,to cut the profit margin so slim,till they beg you and offer u money to leave them alone,the desire to expand as quickly as possibly as ruthlessly as possible,to fight for market share at all cost.Go read Carnegie's autobiography,one of the richest man of all time.Business is about taking a product thats acceptable and running like hell with it.Look at the top 20 biggest corporations in america.....microsoft,mcdonalds,wal mart,do u think these companies got to the top because their products are great,in fact most of them peddle shit,they killed their competition,dominated the market now they have u by the balls.

U think business is about creating works of art?NO!!thats for people like elon musk with way too much money and nothing better to do.How do u think Lenovo got to the top with 20 percent marketshare in laptops today?by making beautiful pieces of junk like Sony Vaio?Take TWG for example,u think they became successful because they are good Tea makers?

Now u want to bring those old dinosaur relics,those old SIA workers back?They belong to another era,back in the 80s when there was very little competition back then,back in the days when Singapore was the only one of the handful of advanced cities in Asia,remember the fucking 80s?i was born in the late 80s so i dont remember,remember when DFS or Duty Free Shops were all the rage?now u barely see any.Back then SIA served a different era,back then flying was for the priviledged only reserved for the rich and elite,yes SIA workers could put on the best looking uniforms and strut around and claim they had the best service in the world and best planes and charge super high rates it was all a matter of opinion.thats probably how sinkies got pinkerton syndrome from working in SIA in the 80s and serving ang mohs all day long.but the old traditional model is gone,SIA is becoming obsolete and redundant,many traditional airlines are hanging on by the seat of their pants barely making any profit,hoping they dont jump out of the plane during midflight and plummet to their deaths.NOW IS THE AGE OF THE BUDGET AIRLINES!!!!of coming up with the most creative solutions how to

 

[swimorsink]

Are you referring to his wife by the name of Kim?

I dont know both of them so I am unable to confirm that, its just that when he was talking with some people nearby someone in my group mentioned that he was a former scholar who also at one time was very high up in SIA. He seemed an ok type person at least socially but not so his Mrs.

 

[KuanTi01]

SIA's business model is obsolete.

In view of competition, economic situation, erratic fuel prices and other circumstances, SIA has to change. Otherwise, we will soon see SIA make its first ever annual loss

I agree with you that the SIA business model is outdated. One of the main contributing factors for this decline is that many top echelon appointments in the SIA hierarchy are also political appointments. These people are specially handpicked not just solely on talent and merit. They must also be politically-safe and politically well-connected.

 

[tictactoe]

I agree with you that the SIA business model is outdated. One of the main contributing factors for this decline is that many top echelon appointments in the SIA hierarchy are also political appointments. These people are specially handpicked not just solely on talent and merit. They must also be politically-safe and politically well-connected.

Who are these ? I only know about the General but no others.

 

[ckmpd]

Agreed, I was just going to reply him when you did. Airlines are going to find it very difficult to make good money on a regular basis these days. Too many seats to every country and not enough people to fill those seats resulting in low yields.

SIA faces intense competition from the ME Airlines in the high end segment of the industry and from Air Asia in the budget area.

It also cannot seem to get its fuel predictions and hedging correct.

Singtel is a better bet than SIA and its share price is more resilient. Dividends are also steadier and quite respectable at slightly above 4%

SIA is trading at 9.98, down 78c

 

[uvwxyz]

SIA is trading at 9.98, down 78c

I am sure its price will eventually be supported by the big guns.

 

[Kotekbengkok]

The beginning of sq decline started with the advent of low cost airline Air Asia. SQ mgt mmediate reaction was to believe it would fail n remained in denial for years to follow. Their reluctant n token response was Tiger which many saw as doomed to fail cos it was a token response, lousy mgt and no support from sq n temasek.There were many credible offers to Temasek to start credible n well financed answer from some private business men including ong beng seng. But these were all shunned. Lim chin beng started Value Air. If he had been suported he could have succeded. Instead the goverment, caas sq all took aim n shot him down. He had to sell to Jetstar, supposed spore low cost airline but actually australin owned n managed. Ong beng seng could have also succeded. But the goverment never believed that low cost was gonna succeed. Now a lame tiger with a Scoot which is also struggling are trying to reddem. Too little too late. Squeezed by air asia n such on one side n the ME carriers on the other.

Dear brothers and sisters

SIA is making SGD1.5 million loss on the daily basis.

Apparently prostitutes foreign talents fail to float SIA.

Singapore Airlines swings to S$138m net

 

[ckmpd]

I am sure its price will eventually be supported by the big guns.

Yes, HC and TH will use our CPF money to support SIA. But if fundamentally the company's business model is flawed, it cant be supported in the long run. Look at SMRT and NOL. SIA has to change to face rising competition. Its present form to depend on premium class passengers cant be sustained in the present competitive and poor economic climate. Not many companies are willing to fill SIA planes with First and Business Class passengers. The money is still on the mass economic class which SIA is faltering

 

[uvwxyz]

Yes, HC and TH will use our CPF money to support SIA. But if fundamentally the company's business model is flawed, it cant be supported in the long run. Look at SMRT and NOL. SIA has to change to face rising competition. Its present form to depend on premium class passengers cant be sustained in the present competitive and poor economic climate. Not many companies are willing to fill SIA planes with First and Business Class passengers. The money is still on the mass economic class which SIA is faltering

I think they realise that but cannot come out in the open to say it. This is why Scoot was birthed with a golden spoon in its mouth ( given SIA's brand new 787s ). It is important to SIA that Scoot succeeds.

SIA stopped flying to a few places a few years back but now Scoot is flying to those destinations. The delisting and privatision of Tiger to enable it to synergise with Scoot is also another sign that SIA is putting more importance and hence resources to its budget wing.

SIA realised late the advent of the budgets but better late than never. It has got some catching up to do with Air Asia. However Air Asia is largely dependent on one person and we know what can happen if he is no longer around ( think Chemoil ). Not only would Air Asia lose a visionary and charismatic entrepreneur but there will be lots of vultures around waiting to strip and suck Air Asia dry.