Weak travel demand aside, SIA has major problems to fix
THE pain being felt by the aviation sector is global, and Singapore Airlines (SIA) and its top brass should not be unfairly penalised for factors that are beyond their control. But some of the hits that SIA has taken could have been reduced or even avoided.
Take, for instance, SIA's investments in foreign airlines NokScoot Airlines and Virgin Australia, which have filed for liquidation and voluntary administration, respectively.
Thailand-based low-cost carrier NokScoot and Brisbane-based full-service airline Virgin Australia had been struggling with turning a profit even before the pandemic. Consequently, they were among the earliest casualties of the pandemic.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
DigitalBridge-backed Vantage said to weigh Hong Kong data centres sale
Vietnam delays launch of new stock trading system
Tesla’s plan for affordable cars takes page from Detroit rivals
Meituan to debut in Riyadh as expansion beyond China quickens
Mapletree Industrial Trust to distribute S$13 million of divestment gains over next 4 quarters
K-pop agency Hybe’s internal strife wipes out 1.2 trillion won