Singapore Airlines

Garuda latest to be fingered for price fixing

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As part of the on-going global investigation into price fixing within the air cargo industry, Australia’s consumer watchdog has this week started proceedings against Garuda, accusing the Indonesian carrier of participating in a global cargo fuel surcharge cartel. The Australian Competition and Consumer Commission (ACCC) earlier initiated proceedings against Singapore Airlines Cargo in December 2008, Cathay Pacific Airways in April of this year and Emirates in August. The three have … [Read more...] about Garuda latest to be fingered for price fixing

SINGAPORE: First quarterly loss in six years for SIA

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Singapore Airlines has posted its fi rst quarterly loss since 2003, with a S$307.1 million (US$212.6 million) loss that compared to a S$358.6 million profit in the fiscal first quarter of 2008-09. The global economic downturn, swine flu and unfavorable fuel hedges dragged the carrier into the red. Group revenue during the quarter ended 30 June dropped 30.5 per cent to S$2.87 billion while expenses were reduced 15.8 per cent to S$3.19 billion. A S$287 million loss on fuel hedges partially off … [Read more...] about SINGAPORE: First quarterly loss in six years for SIA

First quarterly loss in six years for SIA

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Singapore Airlines has posted its first quarterly loss since 2003, with a S$307.1 million (US$212.6 million) loss that compared to a S$358.6 million profit in the fiscal first quarter of 2008-09. The global economic downturn, swine flu and unfavorable fuel hedges dragged the carrier into the red. Group revenue during the quarter ended June 30 dropped 30.5 per cent to S$2.87 billion while expenses were reduced 15.8 per cent to S$3.19 billion. A S$287 million loss on fuel hedges partially offset … [Read more...] about First quarterly loss in six years for SIA

SINGAPORE: SIA pilots agree to no pay leave and pay cut

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Singapore Airlines (SIA) and the Air Line Pilots Association – Singapore (ALPA-S) have signed an agreement with effect from 1 July, under which all pilots in the airline will take one day of leave without pay each month and a cut of 65 per cent of one day’s pay, pro-rated from monthly basic salary. In the year ending March 2010, SIA will decommission 16 aircraft, fewer flights will be operated and capacity will be lower by 11 per cent fromthe preceding year. … [Read more...] about SINGAPORE: SIA pilots agree to no pay leave and pay cut

SINGAPORE: SIA adds fourth daily B777 service to Manila

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Singapore Airlines will add a fourth daily flight between Singapore and Manila from 10 July using B777 family aircraft which will increase the capacity on the route by more than 20 per cent. The capacity increase follows recent bilateral air services consultationsbetween Singapore and the Philippines. … [Read more...] about SINGAPORE: SIA adds fourth daily B777 service to Manila

Singapore Airlines sees profits plunge 92%

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Singapore Airlines (SIA) said its January-March profit plunged 92 per cent as the global economic slowdown depressed passenger and cargo movements. The carrier's net profit for its fiscal fourth quarter was S$41.9 million (US$28.7 million), down from S$528 million a year earlier, it said in a statement. That took the net profit for the whole year to S$1.06 billion, down 48 per cent from the previous year. The company's cargo division, SIA Cargo, booked a loss of S$245 million, reflecting the … [Read more...] about Singapore Airlines sees profits plunge 92%