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Serious SIA Is Making 1.5mil loss on the daily basis

Discussion in 'The Courtyard Café' started by gingerlyn, May 19, 2017.

  1. gingerlyn

    gingerlyn Alfrescian (Inf)

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    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 loss in Q4
    SINGAPORE: Singapore Airlines (SIA) on Thursday (May 18) reported a net loss of S$138 million in its fourth quarter from January to March, reversing from a S$225 million net profit in the same period last year.
    Fuel costs before hedging increased $331 million in the quarter, due to a 50.7 per cent surge in average fuel prices and a stronger US dollar against the Singapore dollar.
    The company also said that passenger flown revenue fell $17 million despite a 5.5 per cent traffic growth.
    "Intense competition continues to exert pressure on yields amidst persistent cost pressures," SIA said in a news release.
     
  2. gingerlyn

    gingerlyn Alfrescian (Inf)

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    I want to know if the additional revenue gained from water price increase is sufficient to cover for SIA and UBS loss?
    any idea brothers and sisters
     
  3. ckmpd

    ckmpd Alfrescian Old Timer

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    SIA's business model is obsolete.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
     
  4. iamhere

    iamhere Alfrescian Old Timer

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    WELL DONE!!!!!

    sell powerplants, SPC, NOL, maybe SIA next? then nothing left to sell... sell HDB, then singtel, then all the what have you(s)


    ;););):D:D:D;););)
     
  5. ckmpd

    ckmpd Alfrescian Old Timer

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    Are you blind?

    Selling SPC, NOL, are ikan bilis.

    Singapore is being sold out by pap to foreigners. You cant see that?
     
  6. johnny333

    johnny333 Alfrescian (Inf)

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    Maybe it's time for SIA to be privatised? Other than providing the PAP free travel why does Spore really need SIA especially if it keeps making losses?

    There is a cost to Spore to support all these paper generals. The PAP should stop creating so many useless paper generals & with the savings cut our taxes. Spore Inc is supporting too many inefficient GLCs that burden Spore tax payers.
     
  7. uvwxyz

    uvwxyz Alfrescian (Inf)

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    There were some reasons for the 4th quarter loss.

    Singapore Airlines: Dividend cut on disappointing FY17


    Singapore Airlines’ (SIA) 4QFY17 swung to a core net loss of at S$6.4m, vs. core PATMI of S$127.3m a year ago, as it recorded a one-off provision of S$131.9m in relation to competition-related fines.

    4QFY17 revenue was flat YoY at S$3.72b despite traffic growth (+5.5%), as yields remained under intense pressure. Operating expenses grew 3.5% YoY to S$3.69b due to higher average fuel prices as well as the double-digit capacity expansion by Budget Aviation Holdings (i.e. Tigerair and Scoot) and SilkAir.

    For FY17, revenue fell 2.4% to S$14.9m with weaker performances at passenger airlines and cargo airline on the back of yield erosion, absence of income from aircraft delivery slot changes, but mitigated by a one-time credit upon change in timing of revenue recognition of utilized tickets.

    Consequently, with a 2.1% reduction in operating expenses on cheaper fuel costs, FY17 core PATMI was below expectations as it declined 16.0% to S$372.1m, forming 80.8% of our FY17 forecast. SIA is recommending a final dividend of S$0.11 (FY16: S$0.35), bringing the total dividend payment for FY17 to S$0.20 (FY16: S$0.45).
    Pending analyst briefing, maintain HOLD, but our S$10.36 FV is under review. (Eugene Chua)
     
    1 person likes this.
  8. Agoraphobic

    Agoraphobic Alfrescian Old Timer

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    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!


     
  9. nayr69sg

    nayr69sg Alfrescian Old Timer

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    Johnny333 you have a good point there. So what GLC is efficient and makes money now? And makes money internationally not domestically.

    For example SMRT is now privatized. It made money from sinkies and FTs locally.

    Oil rig and ship builders Kep Corp and Sembmarine used to be good players now in the doldrums.

    Oil prices have collapsed since 2013. Half of what it was and yet SIA cannot make money? Finished.

    Singtel has been unsuccessful in overseas ventures. Makes money locally again.

    At one time it was touted that players like Sembcorp and Hyflux could export expertise in water. No story there. What they do? Raise Singapore water price. Again earn locally.

    Banks? Haven't heard any big things with DBS ventures abroad either. Again earn locally. In fact DBS screw up with those loan defaults from busted offshore marine players Swiber and Swissco.

    Weapons? Terrex saga probably kill ST engineering credibility.

    So what else is there that can draw in international investment and funds?

    Answer: property.

    Read about that Stirling road plot of land getting bid of $1 billion. That's good to last SIA losing 1.5 million daly for 666 days.

    But after the developers from China build the condo units who do they sell them to? Sinkies and FTs locally. In other words end result is still earn locally.

    Singapore has been on a decline for some time already. The party is over folks just that the music hasn't stopped playing.
     
  10. nayr69sg

    nayr69sg Alfrescian Old Timer

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    Good point. They need a get the right people into senior management and give them power to run the company properly.

    I have long argued that the SAF scholar Policy is one of the key reasons why Singapore has fallen. It is incomprehensible to appoint these SAF people into senior management. I mean seriously?

    You don't see big International corporations headhunting Army generals from USA or other armies to run their corporations do you?

    We all know running SAF is a big joke as far as the top level are concerned. They do absolutely nothing.

    Get rid of this scholarship policy. It does nothing. Choosing 16 year olds and earmarking them for greatness in the future belongs to the Ming Dynasty. No one else does this.
     
  11. swimorsink

    swimorsink Alfrescian Old Timer

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    Out of the frying pan and into the fire. Stop the SAF scholar policy and they will simply import more FTs ala Piush Gupta. Take your pick.
     
  12. nayr69sg

    nayr69sg Alfrescian Old Timer

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    Sigh you are right.

    Forgot about that too. Truth is Singapore is not a draw for world class talent. Many factors why. Political landscape is full of nepotism so that is one. The other is in truth the market in Singapore is too small. In comparison to the world stage all of sinkieland so called big companies are small players.

    So how to attract real talent? Throw money get the money greedy all talk and flash. Por lumpar types.

    Finished lah sinkieland.

    Oh johnny333 I forgot SPH also another earn locally GLC. Now also struggling and try to go more into property.
     
  13. gingerlyn

    gingerlyn Alfrescian (Inf)

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    Singapore is making huge profit from public utility board and printing COE.

    since when they make money from foreigners?
    they even get cheated by foreigners who cheat GST at airport.
     
  14. gingerlyn

    gingerlyn Alfrescian (Inf)

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    dont u find it fishy, all increase in parking fee, water bills, school fees, petrol taxes etc are coincident with UBS and SIA / Keppel losses
     
  15. syed putra

    syed putra Alfrescian Old Timer

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    Too many planes on the sky.and the super rich now fly or lease their private jets instead of first class.
     
  16. nayr69sg

    nayr69sg Alfrescian Old Timer

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    It is very obvious actually. The Medishield life premiums is a way to claw back all those "2.5% interest on CPF OA". The premiums look ok now cos of all the "grants" . Later on will go up and soon you find "eh what happened to my CPF?"

    Get out if you can.
     
  17. Debonerman

    Debonerman Alfrescian Old Timer

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    I saw the writing on the wall a few years ago. LTA billboards announcing the widening of PIE towards the BKE. "We Are Upsizing!" Maids and McDonalds generation.
     
  18. scroobal

    scroobal Alfrescian Old Timer

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    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?

     
  19. frenchbriefs

    frenchbriefs Alfrescian (Inf)

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    Since SIA is a GLC maybe can ban all sinkies from travelling except on SIA?the key to success for SG companies is a good monopoly or a cartel like SingTel, starhub,M1.i also highly recommend SIA to go into REITs.Reits are a huge earner in Singapore.im loving my portfolio of SG REITs, consistent performance of high dividends.Singapore is a gigantic island of real estate play if people still have not realised it.half of the richest 30 Singaporeans are derived from real estate.
     
  20. frenchbriefs

    frenchbriefs Alfrescian (Inf)

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    GLCs is a vital organization for the employment of paper generals and useless sinkies rejects from the private sector Lord knows how many there are.the liquidation of SIA will result in the termination of thousands of sinkies wooden if not silver or golden rice bowls.
     
    Last edited: May 19, 2017

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