Singapore Prime Minister Lee Hsien Loong stated Singapore expects visitor arrivals to reach a record of around 12 million in 2010, an increase of around 24% year-on-year, helped by the success of the Singapore's two multi-billion-dollar casinos (Channel News Asia, 29-Nov-2010). Singapore legalised casinos in 2005 as part of a plan to double visitor arrivals to 17 million by 2015. Genting Singapore's Resorts World at Sentosa opened in Feb-2010 while Las Vegas Sands' Marina Bay Sands commenced operations in Apr-2010. Singapore's visitor arrivals in the nine months to Sep-2010 totalled around 8.6 million.
Singapore expecting 12 million visitors in 2010; increase of 24%
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Scoot 2017 outlook: challenging market conditions and Europe launch could impact profitability
Singapore Airlines (SIA) medium long haul LCC subsidiary Scoot faces a potentially challenging 2017 as it launches flights to Europe and merges with the short haul LCC Tigerair. Scoot is also planning a series of network and schedule adjustments, which are critical to the future success of the European routes and long-term profitability.
Scoot has been successful in the initial four and a half years since its mid-2012 launch, becoming profitable in a relatively quick timeframe and unlocking a new phase of growth for the SIA Group. However, 2017 will bring intense competition and ambitious expansion in markets that are not likely to be profitable in the short to medium term.
Scoot’s newfound profitability could be at risk due to yield pressures, higher fuel costs and expenses related to new long haul route launches. Scoot and its ongoing integration with Tigerair are necessary strategically, and should improve the SIA Group’s long-term position, but the short-term outlook is relatively cloudy.