$SIA (C6L.SG)$ : How Singapore Airlines Succeed (Long story,...
$SIA (C6L.SG)$ : How Singapore Airlines Succeed (Long story, 4 minutes to read. Not suitable for trading, only for reading pleasure and information only.)
Singapore Airlines has thrived, earning a global reputation for top-notch service and safety. Not only has it prioritized its international routes, SIA also embarked on a journey to redefine the standards of commercial aviation.
Known for its impeccable service and luxurious amenities, the airline has consistently ranked among the world's best. Its commitment to excellence service has earned numerous accolades, including the prestigious World’s Best Airline Title from Skytrax.
Besides SIA exceptional service, its financial performance is also remarkable. Despite its reputation for luxury, SIA is also one of the industry's most cost-effective operators.
Except during the Covid-19 pandemic, the airline has always delivered healthy profits, allowing it to consistently pay dividends to its shareholders.
Despite being majority-owned by the Singapore government through state investment company, Temasek Holdings, Singapore Airlines has maintained a remarkable level of autonomy.
This is largely due to the exceptional leadership and management team that has steered the airline for decades.
However, there have been rare instances where government intervention was necessary.
One notable example was the dispute with the SIA Pilot Union in 1980 where pilots threatened to strike over salary demands.
Prime Minister Lee Kuan Yew had to step in to mediate, swiftly resolving the crisis and preventing significant disruption to the airline's operations.
More recently, the COVID-19 pandemic had also severely paralysed Singapore Airlines, pushing it to the brink of collapse. The airline faced unprecedented losses and urgently required the government's support.
Temasek Holdings provides a record-breaking rescue package, delivering the vital financial support required.
As a result, Singapore Airlines not only survived but achieved its highest-ever annual profit by May 2023, reversing its previous losses. Thus, the Singapore government’s interventions were a success.
Too Good to Fail. 🫢🫢🫢
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Comanche : Good summary of her past years.![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
Meng PaPa OP Comanche : Yes. I don't deny it. Overall, SIA is not bad besides Emirates.