Subscribe free to our newsletters via your
. Space Industry and Business News .




AEROSPACE
SIA seeks tie-ups in India, China as profits flounder
by Staff Writers
Singapore (AFP) May 10, 2012


Singapore Airlines (SIA) said Thursday it is exploring partnerships in India and China as it looks to guard against increased competition and global economic uncertainty.

"There is always a constant look at how we can be nimble in response to changes in the market," chief executive Goh Choon Phong told reporters a day after the group announced sharply lower profits for the fiscal year to March.

SIA's profit slumped 69 percent year on year to Sg$336 million.

The Singapore flag-carrier -- often seen as a bellwether for the airline industry -- also recorded a net loss of Sg$38.2 million in the fourth quarter, only the third quarterly loss in its history.

"Specifically for China and India we continue to be working closely with the airlines there, especially those that are in the same alliance," the SIA chief executive said.

"The discussions are always ongoing on how we can deepen cooperation. When and at what point we can make any announcements about changes in the way we work with them, we will announce them when it is ready," Goh added.

SIA, a member of the Star Alliance along with Air China, last year announced a long-term partnership with Virgin Australia aimed at boosting the carriers' global reach by sharing flights and coordinating schedules.

Members of their respective frequent flyer programmes are also able to earn and redeem miles on each other's flights.

Goh said it was too early to tell if tie-ups in India and China would be as extensive as that with Virgin Australia.

"No single partnership is going to be the same as another... It will depend on the synergies between the two carriers," he said.

Goh said SIA, which is about to launch its own fully-owned budget airline Scoot, was unfazed by the growth in low-cost carriers in Southeast Asia.

An expanding middle class and robust economic growth have fuelled a low-cost air travel boom in the region, with players like AirAsia, Qantas offshoot Jetstar and Indonesia's Lionair all looking to expand.

"We see it as an additional engine of growth rather than competition. The impact of low-cost carriers on SIA itself, frankly we don't see that much impact," the SIA boss told AFP after the briefing.

Despite the imminent launch of flights to Sydney and Gold Coast by Scoot in June, Goh said advanced bookings for SIA's flights to Australia have not been affected.

Apart from Scoot, SIA also has a 32.84 percent stake in budget carrier Tiger Airways.

.


Related Links
Aerospace News at SpaceMart.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News





AEROSPACE
Australia warning over smouldering iPhone incident
Sydney (AFP) May 4, 2012
Australia's air safety watchdog warned Friday of the potential dangers of lithium battery-powered devices after an iPhone that had undergone unauthorised repairs started smouldering on a flight to Sydney. In the incident last November on Australian carrier Regional Express a crew member used a fire extinguisher on a passenger's phone that began overheating and giving off smoke in the cabin. ... read more


AEROSPACE
Thailand buys Chinese tablet computers for schools

Curtiss-Wright Controls Awarded Contract By Alenia Aermacchi

Japan's Hitachi looks to future after wobbly year

KIT Researchers Succeed in Realizing a New Material Class

AEROSPACE
Second AEHF Military Communications Satellite Launched

Fourth Boeing-built WGS Satellite Accepted by USAF

Raytheon to Continue Supporting Coalition Forces' Information-Sharing Computer Network

Northrop Grumman Wins Contract for USAF Command and Control Modernization Program

AEROSPACE
A Soyuz takes shape in French Guiana for the next dual Galileo satellite launch

SpaceX boss admits sleep elusive before ISS launch

Air Force launches 2nd advanced satellite

A trio of Ariane 5 launchers are now at the Spaceport

AEROSPACE
S. Korea to urge N. Korea to stop GPS jamming

Next Galileo satellites to launch after the summer

Czech Republic approves EU Galileo agency move to Prague

China launches two navigation satellites

AEROSPACE
SIA seeks tie-ups in India, China as profits flounder

Migratory locusts in a wind tunnel

Australia warning over smouldering iPhone incident

China Eastern to buy 20 Boeing 777-300s

AEROSPACE
Fast, low-power, all-optical switch

SK Hynix pulls out of bid for Japan's Elpida

Electric charge disorder: A key to biological order?

With new design, bulk semiconductor proves it can take the heat

AEROSPACE
Spotlight on Sentinel-2

GeoEye Proposes Acquisition Of DigitalGlobe

Report warns of rapid decline in US Earth observation capabilities

Lockheed Martin Completes Key Integration Milestone on GeoEye-2

AEROSPACE
1,500 children in Nigeria village suffer lead-poisoning

Pacific plastic soup grew 100-fold

Peru says 5,000 birds, nearly 900 dolphins dead

Beijing to get rid of 1,200 polluting enterprises




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement