Singapore Inc.

For years Singapore Airlines spearheaded innovation in inflight service in the world’s international skies but was a conservative player when it came to branching out into potentially risky ventures beyond its full-service comfort zone. Today it is in multiple markets, including no-frills… and not everything is going to plan

Singapore Airlines had clearly had enough after watching the value of its two-fifths stake in low-cost carrier Tigerair plunge by 40 per cent over the past three months. The Tiger’s roar had faded to a whimper with a net loss of A$163. 75 million for the three months ending September, diving from a profit of $21. 4 million a year earlier. That would have been bad enough if SIA wasn’t having its own financial issues, reporting a 52 per cent fall in operating profits to $35. 5 million for its first quarter, ended June 30, trailing market estimates as it continues to grapple with industry overcapacity and weak yields, which have declined for 12 consecutive quarters.

Goh has more than enough on his plate so it is little wonder he decided it was time to act.

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