Great! SG Airline LOST $$$Hundreds of Millions HUAT!

[The_Hypocrite]

Actually 1st got Tiger than nkw Scoot. Really does not make sense as they are cannibalising their own market. What scoot and tigerair does its the same. Same routes, same customer market etc. Maybe they will kill of tiger and transfer everything to scoot. Than dont have so much competiton and can start with a clean slate.

 

[Jah_rastafar_I]

Any of you niggers fly either scoot or tiger? Well you deserve to get fucked for choosing such a shitty airline.

 

[Papsmearer]

Well, Singapore GLC can only thrive with Government protection, aka covering their ass. Desmond lim from SMRT is selling the asset of SMRT back to government because of rising land price. The aim is to prop up the share price, true enough the share price surge 20% after SMRT revealed that they have asked Singkie Government to buy back the asset at Market price. Government also say that they are ready to buy back the asset own by SMRT. Upon buying back of SMRT asset back to Singkie Government, SMRT will have a wind fall. The only beneficiary will be the Shareholders, Desmond Kuek and his cronies from SAF. Balance sheet will be prop up and SMRT will return to much more profit.

Win win situation for all , except tax payers and commuters. So question , i like to ask. What happen after selling off your assets just to sustain your profitability for the financial year ? Ask government for another 1.1 billion hand out for new buses ?

Back to Airline business, if Singkie government can't shield all these leeches from free competition overseas. They will be slaughtered and cut up just like what happen to Tiger Air. Next stop, Scoot will be online next.

Yes you are right. this is bullshit accounting. Losing money like fuck, than go and ask big daddy to buy your assets so u can report a profit. I can tell you that those SMRT assets they are selling are over valued in the first place. If not, they can go and find an independent 3rd party to buy it at "market rate" any time. the fact they could not find any buyers and had to call in the govt. tells you they could not get the price they were asking. Therefore, the govt. is not buying at market price. They are over paying. Its like you want to sell your car for $100,000. After advertising online and in the papers, no one wants to pay you $100,000. maybe the best offer you had was $80K. So, in the end, you arrow your father to buy the car off you for $100K. You happy like fuck. Your father lugi. In this case, the taxpayers via the govt. are the losers by paying too much for these assets.

The airlines business is really a global competition. the govt. has signed aviation treaties that allow other country's airlines to compete here. If they ban the other airlines and give only SIA and Tiger the monopoly for singapore airspace,t hey know that other countries will retaliate and ban the singapore carriers. And when it comes to global competition, it really exposes the GLCs for the useless shits they are. Bloated with bureacracy, high overhead and truly unable to compete without govt. help.

 

[Papsmearer]

Tiger's chairman Mr JY Pillay couldn't duplicate his SIA success. It is disheartening that he ended his airlines-legacy in such a manner.

What SQ success? In the years when they were profitable, they made most of their money from selling planes. Because they keep ordering new ones to take advantage of cheap rates due to govt. guaranteed loans. Their profits from operations is good some years and not there in others. If you want them to compete one on one, they cannot. They have killed a lot of routes all over the world due to competition from chinese airlines.

 

[congo9]

What SQ success? In the years when they were profitable, they made most of their money from selling planes. Because they keep ordering new ones to take advantage of cheap rates due to govt. guaranteed loans. Their profits from operations is good some years and not there in others. If you want them to compete one on one, they cannot. They have killed a lot of routes all over the world due to competition from chinese airlines.

It sounds like SIA has been selling plane to make profit , like 2nd hand car seller. Their bankers are no other then Govt themselves. Cheap loan from Govt. Resell the air plane and lease it out or ask other airliner to do a hire purchase from SIA for the planes. If other Airlines cannot tahan the down payment from the SIA, SIA will toll it back. Refurbish it again and sell it as display set again.

Sounds like our Electronic retailer , Courts ! Hahahahahah

 

[winnipegjets]

Well, Singapore GLC can only thrive with Government protection, aka covering their ass. Desmond lim from SMRT is selling the asset of SMRT back to government because of rising land price. The aim is to prop up the share price, true enough the share price surge 20% after SMRT revealed that they have asked Singkie Government to buy back the asset at Market price. Government also say that they are ready to buy back the asset own by SMRT. Upon buying back of SMRT asset back to Singkie Government, SMRT will have a wind fall. The only beneficiary will be the Shareholders, Desmond Kuek and his cronies from SAF. Balance sheet will be prop up and SMRT will return to much more profit.

Win win situation for all , except tax payers and commuters. So question , i like to ask. What happen after selling off your assets just to sustain your profitability for the financial year ? Ask government for another 1.1 billion hand out for new buses ?

Back to Airline business, if Singkie government can't shield all these leeches from free competition overseas. They will be slaughtered and cut up just like what happen to Tiger Air. Next stop, Scoot will be online next.

SMRT is a perfect example of PAP's socialized cost and privatize profits policy to benefit certain people it favours.

 

[winnipegjets]

I thought an angmo was in charge

Tiger was badly mismanaged. There was plenty of embarrassing problems I remember when they kicked out passengers from one flight because the other plane couldn't take off

Tiger managed by a sinkee lah.

 

[Runifyouhaveto]

after the dismay results
JP Morgan target price $0.50
CIMB target price $0.22
:*:

 

[Papsmearer]

Tiger managed by a sinkee lah.

yeah, the CEO is a sinkie, Koay Peng yen, who spend his entire career in the shipping industry. even graduated with Ocean systems management degree from MIT, and was shipping executive in NOL, as well as in PaxOcean engineering and Pacific Carriers. i still don't know why he was appointed CEO as he knows nothing and has no background in the Aviation industry, much less in the very demanding budget airlines market. this kind of appointment really stinks. i can't believe that Pillay with all his years at SQ would pick this guy to be CEO. And you wonder why they are going under.

This is typical of the PAP and we have seen them do it many times before. Spend millions to start an enterprise, and than put in a totally unqualified person to run it, and than sit back and watch while it loses money. except, its not their money its ours!!

 

[Papsmearer]

It sounds like SIA has been selling plane to make profit , like 2nd hand car seller. Their bankers are no other then Govt themselves. Cheap loan from Govt. Resell the air plane and lease it out or ask other airliner to do a hire purchase from SIA for the planes. If other Airlines cannot tahan the down payment from the SIA, SIA will toll it back. Refurbish it again and sell it as display set again.

Sounds like our Electronic retailer , Courts ! Hahahahahah

In those days, due to the rapid rise in air travel, a used Boeing 747 sometimes cost more than a new one. Airlines who could not wait for their delivery from boeing, used to go to the used plane market to buy their fleet planes, and paid a premium to get immediate delivery. At that time, SQ being the operator of a purely Boeing fleet, and their fleet being pretty new and well maintained simply sold their planes for a capital gain. No need to sell too many, just a couple a year is enough to get a windfall. that was their so call profit.

 

[laksaboy]

All the people who're thinking of running an airline should have at least played an airline business management simulation game.

Here, I'll provide the links, you can play straight from your browser. Needs Adobe Flash.

Aerobiz
http://www.ssega.com/game.php?id=87



Aerobiz Supersonic
http://www.ssega.com/game.php?id=90

 

[yinyang]

.. Airlines who could not wait for their delivery from boeing, used to go to the used plane market to buy their fleet planes, and paid a premium to get immediate delivery. At that time, SQ being the operator of a purely Boeing fleet, and their fleet being pretty new and well maintained simply sold their planes for a capital gain. No need to sell too many, just a couple a year is enough to get a windfall.

..SIA has been selling plane to make profit , like 2nd hand car seller. Their bankers are no other then Govt themselves. Cheap loan from Govt. Resell the air plane and lease it out or ask other airliner to do a hire purchase from SIA for the planes. If other Airlines cannot tahan the down payment from the SIA, SIA will toll it back. Refurbish it again and sell it as display set again

Enlightening, no different from capital gain on disposal of assets. "Seasonal" trade boost to p/loss, differentiated to core business of flying pax.

Back to present. No secret that the moneyed Mid-East airlines are giving SQ a hard time.

entire career in the shipping industry. even graduated with Ocean systems management degree from MIT, and was shipping executive in NOL, as well as in Pax engineering and Pacific Carriers. i still don't know why he was appointed CEO as he knows nothing and has no background in the Aviation industry, much less in the very demanding budget airlines market. this kind of appointment really stinks. i can't believe that Pillay with all his years at SQ would pick this guy to be CEO. And you wonder why they are going under

What floats on water, will not necessarily fly. Neither NOL's results are any glowing

 

[lifeafter41]

yeah, the CEO is a sinkie, Koay Peng yen, who spend his entire career in the shipping industry. even graduated with Ocean systems management degree from MIT, and was shipping executive in NOL, as well as in PaxOcean engineering and Pacific Carriers. i still don't know why he was appointed CEO as he knows nothing and has no background in the Aviation industry, much less in the very demanding budget airlines market. this kind of appointment really stinks. i can't believe that Pillay with all his years at SQ would pick this guy to be CEO. And you wonder why they are going under.

This is typical of the PAP and we have seen them do it many times before. Spend millions to start an enterprise, and than put in a totally unqualified person to run it, and than sit back and watch while it loses money. except, its not their money its ours!!

The rationale is probably all the same mah!!. Transportation business only what.
Moving people from point a to point b.. Trains, bus, taxis, plane, boat/ship. same mah, point a to point b.
CEO interchangeable one.

Can or not hah

 

[Papsmearer]

The rationale is probably all the same mah!!. Transportation business only what.
Moving people from point a to point b.. Trains, bus, taxis, plane, boat/ship. same mah, point a to point b.
CEO interchangeable one.

Can or not hah

hahahahaha, nice try. But maritime shipping industry now is mostly cargo, not pax. while air industry is mostly pax. totally different. unless merchant ships fly, I fail to see the relationship.

 

[johnny333]

Any of you niggers fly either scoot or tiger? Well you deserve to get fucked for choosing such a shitty airline.

Whenever I go to LOS I like to travel cheap & like to get there in the morning. Have looked at Scoots' scheduling & flights to LOS and it does not fit my schedule because it is in the evenings & nights.
So I have never tried Scoots.

When Tiger 1st started flying I would sometimes fly with them. I remember the complimentary orange juice Then I had some trouble with the online booking system because I was using a Mac. So I gave up on them & used Air Asia. Then a few years latter Tiger Air became infamous with all their cockups

 

[Runifyouhaveto]

i think tiger will eventually be integrated back with SIA. This is advance-party:

Singapore Airlines Seeks Bigger Say in Tiger Airways With New CEO
Wall Street Journal -17 hours ago
http://blogs.wsj.com/searealtime/20...eeks-bigger-say-in-tiger-airways-with-new-ceo

 

[Papsmearer]

i think tiger will eventually be integrated back with SIA. This is advance-party:

Singapore Airlines Seeks Bigger Say in Tiger Airways With New CEO
Wall Street Journal -17 hours ago
http://blogs.wsj.com/searealtime/20...eeks-bigger-say-in-tiger-airways-with-new-ceo

That will be the kiss of death for them. No large bureaucratic state owned national airlines has successfully operated a budget carrier. Better ask Pillay to be a baggage handler after this cock up by him.

 

[Runifyouhaveto]

Today, Malaysian airlines offers $275 (all in) from SG to Guangzhou (transit-KL) while tiger charges approx $375. I think you will still fly tiger.

They have scoot, silkair and tiger. Not merged because of air-rights but sharing similiar support facilities. Tiger was primarily ruined by the australians 2-3 years ago. It is very likely that the maximum losses were recognized since 2013 till now.

Judging at the recent privatisation and delisting trends, sg. OBS+Wheelock taking over his HPL, UIC taking over sgland, Capitaland taking over capitalmalls asia, temasek taking over olam.............you will notice that the buyers are actually not really third-party strangers.

Today, SIA is the largest shareholder. A month ago, they issued $500m bonds at 3.14-3.75%pa. Tiger's market cap is only $400m today. They also holds a very large portion of convertible bonds which will give them a massive stake when exercised. I believe we will see the delisting of tiger soon, in the best interests of the SIA and shareholders.

A Singapore Airlines takeover seems sensible - 6th May, 2014
http://centreforaviation.com/analys...apore-airlines-takeover-seems-sensible-166436

SIA has increased its investment in Tigerair – most recently from 33% to 40% in Dec-2013 – following a series of rights issues that failed to generate significant interest from other parties. SIA also has a loan to Tigerair which can be converted into a further 13% equity stake. A majority stake of more than 50% would trigger a required takeover bid.

SIA has so far preferred to wait patiently for Tigerair as it attempts to recover from its challenges. However, SIA ultimately may have little choice but to take over the LCC group. This would have made a lot of sense from Tigerair's beginnings but policy timidity prevented it occurring. The time is fast approaching where that timidity needs to be replaced by a much more forthright and forward looking approach.

 

[Runifyouhaveto]

Judging at the recent privatisation and delisting trends, sg. OBS+Wheelock taking over his HPL, UIC taking over sgland, Capitaland taking over capitalmalls asia, temasek taking over olam.............you will notice that the buyers are actually not really third-party strangers.

Mr Ong just increased takeover price from $3.50 to $4

http://www.reuters.com/article/2014/05/14/hotel-prop-wheelock-prop-idUSL3N0O00GZ20140514

 

[tanwahtiu]

when you serve poor countries in this region like the Pinoys don't expect profits.

Pinoys don't travel for leisure but look for work. When there are no works oversea the air services goes down with them.

Stay away from poor countries. Their own airport are rated the worst airport in the world says about them.

http://www.straitstimes.com/news/bu...-seeks-turnaround-clipping-own-wings-20140503



Loss-making Tigerair seeks turnaround by clipping own wings
PUBLISHED ON MAY 3, 2014 9:23 AM
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Tigerair lost $223 million in the year to March 31, compared with $45.4 million in the previous 12 months. Its ventures in the Philippines and Indonesia have also not worked out well. -- ST FILE PHOTO

BY KARAMJIT KAUR AVIATION CORRESPONDENT
Tigerair is grounding eight planes and cutting unprofitable flights in an unprecedented move to turn its loss-making business around.

Battered by bruising competition, which has pushed the carrier into its biggest loss ever, Tiger-air will park the planes - about 15 per cent of its total fleet - until the end of March next year.

The decision to downsize comes about two months after the airline cancelled an order for nine single-aisle planes that were due to arrive this year and next.

There are just too many flights serving the region and not enough demand to fill seats, said group chief executive officer Koay Peng Yen during a media tele-conference following the release of Tigerair's financial results yesterday.