Singapore Airlines’ latest disappointing financial results are ringing the alarm bells (“Singapore Airlines disappoints“, 20th May, 13). At first glance, Singapore Airlines (SIA) posted a 12.8% increase in FY2012/13 full-year profit to S$379 million (US$299.8 million) from S$335.9 million in the prior fiscal year on a 1.4% rise in revenue to S$15.1 billion from S$14.86 billion a year earlier. The operating profit for its namesake unit also improved by 3.3% …Read More
Tag Archives: 737 MAX
Post-merger United Airlines well-positioned for a 2013 recovery
2012 was a difficult year for Chicago-based full service carrier United Airlines, who reported a 2012 full year net profit of US$589 million excluding special charges of US$1.3 billion. For the last quarter of 2012, United lost US$190 million excluding US$430 million in special charges as the airline grappled with the effects of “Superstorm Sandy” and lingering customer unease over the carrier’s operational issues throughout the course of 2012. The …Read More
Singapore Airlines at a crossroads
2012 was a significant year for Singapore Airlines (SIA) which saw the Singaporean flag carrier embark on a shift in strategy in reinvesting in its namesake unit alongside strengthening its strategic partnership with Virgin Australia by acquiring a 10% stake in a carrier well positioned in one of SIA’s most important core markets, in addition to the sale of its 49% stake in United Kingdom carrier Virgin Atlantic. These moves, coupled …Read More
Virgin Australia’s acquisition spree strengthens foundation for growth
It is “game on”, indeed. Following successfully achieving the 20% corporate market share earlier than originally envisaged which saw the increasingly stiff competition in the lucrative business travel market pushing down domestic business fares to an unprecedented low level since the collapse of Ansett Australia in September 2001, Brisbane-based Virgin Australia did not stand still. Neither did its aspirations stop soaring when Australia’s second-largest carrier recorded a 113% increase in …Read More
Bankrupt American Airlines tells a familiar tale
It’s a familiar American airline story. Delta Air Lines went through it, so did United Airlines. Now it is Fort Worth, Texas-based American Airlines’ turn to carry the can. But for American this time, it never rains but pours. Parent AMR Corporation is operating under Chapter 11 bankruptcy protection. A take-over by the fifth-largest US carrier US Airways is on the cards, while American waits out for a better deal. …Read More
Special Report: Boeing remains formidable even if BAE/EADS merger goes ahead
BAE/EADS merger to create world’s biggest aerospace company Merged BAE/EADS to be 35% bigger than Boeing based on 2011 sales Boeing 2011 profit of US$4.01 billion 22.6% higher than BAE/EADS’s combined US$3.27 billion profit Boeing 2012 H1 profit of US$1.89 billion 26.3% higher than BAE/EADS’s combined US$1.5 billion profit Little cost & revenue synergies on BAE/EADS merger Production ramp-up, weight reduction biggest 787 challenges as risk declines A 787-8 between …Read More
Qantas/Emirates partnership to reshape competitive landscape
The full-year FY2011/12 financial results of Australian flag carrier Qantas Airways paint of a bleak picture, as the flying kangaroo posted its first after-tax loss of A$244 million (US$254.8 million) since its privatisation in 1995, amid record high jet fuel prices and intense competition from Gulf carriers on the lucrative Australia-Europe, or “kangaroo route”. In response, Qantas cancelled its firm order for 35 Boeing 787-9 Dreamliners in order to rein …Read More