Singapore Airlines set to dominate among its Southeast Asian rivals
An analysis published by Reuters on the 9th of July provides the current scene with Singapore Airlines as it dominates through the Southeast Asian region. The following texts are excerpted from the analysis.
“Singapore Airlines Ltd (SIA), flush with $16 billion raised since the start of the pandemic thanks to help from a state investor, is in a position of dominance among its Southeast Asian rivals as they downsize and restructure.”
“Its majority shareholder, government-owned investment arm Temasek Holdings (TEM.UL) underwrote one of the world’s biggest airline rescue packages. Thanks to that, SIA’s has enough funds to keep going for at least two more years without cuts, and is modernising its fleet to save fuel, reduce maintenance costs and meet environmental goals while other airlines shed aircraft.”
“Many of SIA’s rivals are trimming fleets to a level that could ultimately weaken their hubs and send more connecting traffic to Singapore.”
“But analysts say it could take 12 to 18 months for widespread travel to resume in Asia.”
“SIA deferred S$4 billion of spending on new planes over three years after reaching agreements with manufacturers Airbus SE and Boeing Co.”
“But because of large pre-crisis orders, it is still spending S$3.7 billion on new aircraft and adding at least 19 planes to its fleet this year, including 13 widebodies, despite little demand.”
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