SIA to emerge from downturn stronger than competitors
Singapore Airlines Chairman, Stephen Lee, stated the carrier’s conservative business approach, with “strong foundations”, a strong balance sheet, and ability to not rely on debt, will allow it to recover from the global financial downturn in a better position than its competitors (TravelWeekly, 13-Aug-09). Mr Lee added the carrier has been “most acutely” affected by falling Business demand.
Singapore Airlines: “Our reliance in living within our means, not exposing ourselves to any meaningful level of debt, ensures we have sufficient reserves to help cushion the business at times like these. It is said cash is king; never more so than now…We are already aggressively pursuing business with more dynamic pricing, exceptional value-added packages and promotions designed to recognise loyal customers. These offers will continue so that we maximise the potential to fill seats.” Stephen Lee, Chairman. Source: TravelWeekly, 13-Aug-09.