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How should Singapore bail out SIA?
- Thread starter Byebye Penis
- Start date
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...
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.
SIA's NokScoot collapsed.
https://tech.sina.com.cn/roll/2020-06-27/doc-iircuyvk0710260.shtml
https://tech.sina.com.cn/roll/2020-06-27/doc-iircuyvk0710260.shtml
Malaysua suggested bubble corridors for Malaysia, brunei, singapore, thailand but PAP rejected. China where Wuhan virus originated says bubble corridor PAP agreed.
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
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
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
https://www.ig.com/sg/news-and-trad...lines-may-face-s-740-million-net-loss--200717
one way to bail out airlines is to convert passenger planes to cargo carriers.
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?
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?
$1.123billion Q1 loss
https://www.businesstimes.com.sg/co...nes-reports-s1123b-loss-in-q1-due-to-pandemic
https://www.businesstimes.com.sg/co...nes-reports-s1123b-loss-in-q1-due-to-pandemic
This is very good news. The 61% must be very happy. Hope they all get fucked.
Open up the borders.
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.
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.
SIA is in deep fecal matter. Maybe ESND can advices them.
SIA still buying planes
https://www.theedgesingapore.com/ne...und-operating-expenses-aircraft-purchases-and
https://www.theedgesingapore.com/ne...und-operating-expenses-aircraft-purchases-and
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.
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.
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