SIA Maintains Its Premium Edge Among Legacy Carriers, but Not Enough in an Commoditized Industry
No-moat Singapore Airlines, or SIA, reported fourth-quarter fiscal year 2018 results that featured 1% revenue growth and 24% operating profit decline. During the fourth quarter, the group experienced an 8% rise in post-hedging fuel cost, which dragged down the group’s operating profit. While overall passenger yield was down 1% compared with the same period last year to 9.4 cents per kilometer, an 8.5% increase in traffic drove the sales increase for the group. Despite some softness seen in the C...Singapore Airlines is engaged in the business of passenger air transportation. Co. and its subsidiaries have four reportable operating segments as follows: Airline Operations, which provides passenger air transportation; Engineering Services, which is in the business of providing airframe maintenance and overhaul services, line maintenance, technical ground handling services and fleet management programme; Cargo Operations, which is involved in air cargo transportation and related activities; as well as Other, which consists of services provided by Co. and its subsidiaries, such as training of pilots, air charters and tour wholesaling.
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