Singapore Airlines Cargo
Singapore Airlines Cargo is a dedicated cargo airline based in Singapore, operating as the cargo arm of parent Singapore Airlines. A wholly-owned subsidiary of Singapore Airlines, SIA Cargo operates an extensive network of international cargo services from its main hubs in Singapore, Sharjah and Amsterdam with a fleet of Boeing 747 freighters. SIA Cargo also manages the cargo capacity of SIA passenger aircraft.
Location of Singapore Airlines Cargo main hub (Singapore Changi Airport)
138 total articles
14 total articles
Singapore Airlines (SIA) has reported improvements in profits for the three months ending 30-Jun-2013 but its short-term outlook remains bleak as yields continue to slip. The group would have incurred a drop in operating profit and revenues were it not for a settlement related to aircraft delivery delays.
SIA is hoping its strategic shift to focus more on the regional and low-cost markets, along with new investment in its long-haul premium product, will drive improvements in profitability over the medium to long-term. But SIA faces challenges on all fronts.
In the long-haul passenger market, competition continues to intensify and market conditions remain unfavourable. Conditions are better regionally within the Asia-Pacific region, but recent capacity increases at SIA and full-service short-haul subsidiary SilkAir have outstripped demand, leading to lower load factors. Long-haul low-cost subsidiary Scoot and short-haul low-cost affiliate Tigerair remain unprofitable. The cargo sector, which has traditionally been an important business for SIA, is also a concern.
Singapore Airlines (SIA) has recorded a further reduction in profits due to high fuel prices and weak load factors. The SIA group on 28-Jul-2011 reported a net profit for the three months ended 30-Jun-2011 (first quarter of FY2011/12) of SGD45 million (USD37 million), an 82% drop compared to the same period last year and its smallest quarterly profit in nearly two years. The airline itself also fell into the red for the first time in seven quarters, incurring an operating loss of SGD38 million.
Singapore Airlines (SIA) has recorded a significant improvement in fiscal year profits but has seen its profitability drop over the past few months as a result of rising fuel prices and lower load factors. As a result, SIA is now warning the “twin” challenges of high oil prices and weak load factors could continue to affect its financial performance in the new fiscal year.
Singapore Airlines, the world’s second-largest carrier by market value, reported a 29% reduction in net profitability in 3Q2010 (three months to Dec-2010) as it booked charges relating to antitrust cargo fines in the US, EU and South Korea. Taking out the USD155.5 million in exceptional items, the carrier, which is 55% owned by Singapore state investor Temasek Holdings, would have reported a 20.7% increase in its quarterly profit, as a recovery in the global economy boosted air travel.
The spectacular rebound in global air freight demand of 2009/10 has recently slowed to a canter, raising some concerns that 2011 could be marred by excess capacity and yield pressures as demand softens. The recovery has been broad-based, though Asia - especially China - has been the powerhouse performer.
Singapore Airlines, Malaysia Airlines and Thai Airways reported mixed financial results in the three months ended Jun-2010, with combined revenues of USD4.8 billion and a combined net profit of USD66.5 million, for a collective net profit margin of 1.4%. Malaysia Airlines dragged the result down in the quarter, with a net loss of USD168 million, while SIA Group and Thai Airways were profitable in the period, with handsome net profits of USD186 million and USD49 million, respectively.
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