Singapore Airlines Ltd.

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Thai carrier NokScoot heads into liquidation 5 years after launch Jun 27, 2020
Governance group questions role of Cathay bailout 'observers' Jun 26, 2020

See more articles on Singapore Airlines Ltd.

Company Background

Singapore Airlines (SIA) considers itself a "premium" airline. It prides itself on quality service, differentiating itself from its fast-growing low-cost peers. Wholly owned subsidiary SilkAir flies short-haul regional routes, also providing premium services. Goh Choon Phong has been the airline operator's CEO since December 2010; he has been with Singapore Airlines since 1990. The airline began as Malayan Airways in 1947 before going independent under its current name. Singapore sovereign wealth fund Temasek Holdings owns more than 50% of the company.

SIA has stakes in two low-cost carriers. Tiger Airways Holdings was established in 2004 and now operates in Asia and Australia under the Tigerair brand. It is restructuring after posting three consecutive annual losses. Wholly owned Scoot, set up in 2011 to handle middle- to long-haul routes, is reportedly loss-making. After selling off a 49% stake in Virgin Atlantic to Delta Air Lines, SIA shifted its attention to India. Vistara, a New Delhi-based joint-venture with the Tata Group will initially fly only over India, though plans are to assign it international routes once regulatory approvals are given.

Business Summary

Singapore Airlines Ltd. engages in passenger and cargo air transportation. It operates through the following segments: Singapore Airlines, SilkAir, Budget Aviation and SIAEC. The Singapore Airlines segment provides passenger air transportation under the Singapore Airlines brand with a focus on full-service passenger serving short and long haul markets. The SilkAir segment covers passenger air transportation under the SilkAir brand with a focus on full-service passenger serving regional markets. The Budget Aviation segment provides passenger air transportation under the Scoot brand with a focus on the lowcost passenger segment. The SIAEC segment provides airframe maintenance and overhaul services, line maintenance, technical ground handling services and fleet management. The company was founded on January 28, 1972 and is headquartered in Singapore.

Financial Highlights

Mar 2022	SGD	USD
Revenue	7,614.80M	5,646.20M
Gross Profit	-198.60M	-147.25M
Operating income	-867.80M	-643.45M
Income before tax	-973.90M	-722.12M
Net income	-962M	-713.30M
EBITDA	1,131.80M	839.20M
Diluted EPS	-0.16	-0.12
Dividends Per Share	0	0
Total Assets	49,723.30M	36,740.90M
Total liabilities	26,922.90M	19,893.52M
Total equity	22,411.90M	16,560.31M
Operating cash flow	2,833.90M	2,101.27M
	Currency in SGD	Currency in USD

Historical Data

SGD | USD

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Revenue	15,806.10M	16,323.20M	15,975.90M	3,815.90M	7,614.80M
Gross Profit	2,518.50M	1,970.50M	1,203.70M	-1,506.70M	-198.60M
Operating income	1,598.20M	1,068.10M	295.50M	-2,137.40M	-867.80M
Income before tax	1,593.20M	868.60M	-141.50M	-4,844.40M	-973.90M
Net income	1,301.60M	682.70M	-212M	-4,270.70M	-962M
EBITDA	2,790.70M	2,457.90M	2,487.20M	4.30M	1,131.80M
Diluted EPS	0.77	0.40	-0.12	-1.15	-0.16
Dividends Per Share	0.28	0.21	0.05	0	0
Total Assets	26,021.40M	30,632.80M	33,712.80M	37,581.30M	49,723.30M
Total liabilities	12,793M	16,949.60M	23,980.10M	21,303.20M	26,922.90M
Total equity	12,860.30M	13,286.80M	9,314.10M	15,905.90M	22,411.90M
Operating cash flow	2,714.40M	2,837.80M	2,657.30M	-3,443.20M	2,833.90M

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Revenue	11,651.49M	12,019.25M	11,645.13M	2,792.87M	5,646.20M
Gross Profit	1,856.51M	1,450.93M	877.39M	-1,102.76M	-147.25M
Operating income	1,178.11M	786.47M	215.39M	-1,564.37M	-643.45M
Income before tax	1,174.43M	639.57M	-103.14M	-3,545.64M	-722.12M
Net income	959.47M	502.69M	-154.53M	-3,125.74M	-713.30M
EBITDA	2,057.17M	1,809.82M	1,812.96M	3.14M	839.20M
Diluted EPS	0.56	0.29	-0.09	-0.84	-0.12
Dividends Per Share	0.20	0.15	0.04	0	0
Total Assets	19,843.88M	22,615.57M	23,677.21M	27,970.60M	36,740.90M
Total liabilities	9,755.92M	12,513.54M	16,841.73M	15,855.31M	19,893.52M
Total equity	9,807.24M	9,809.37M	6,541.48M	11,838.27M	16,560.31M
Operating cash flow	2,000.92M	2,089.55M	1,936.95M	-2,520.09M	2,101.27M

Valuation Measures

Mar 2022
PER	--
ROA	-2.20%
ROE	-5.02%
Operating margin	-11.39%
Profit margin	-12.63%

Key executives

CEO & Non-Independent Executive Director: Choon Phong Goh
Executive Vice President-Operations: Swee Wah Mak
Chief Financial Officer: Kai Ping Tan
Senior Vice President-Engineering: Hwa Peng Lau
Senior Vice President-Information Technology: Wei Jun Wang

Shareholders

Temasek Holdings Pte Ltd. (Investment Company) (55.3%)
The Vanguard Group, Inc. (1.0%)
BlackRock Fund Advisors (0.8%)
Norges Bank Investment Management (0.6%)
Dimensional Fund Advisors LP (0.2%)
Geode Capital Management LLC (0.2%)
Singapore Airlines Ltd. (0.2%)
State Street Global Advisors Singapore Ltd. (0.2%)
BlackRock Advisors (UK) Ltd. (0.2%)
GOH CHOON PHONG (0.1%)

Contact Details

Website:http://singaporeair.com
Address: Airline House, 25 Airline Road, Singapore, 819829, Singapore
Phone: +65.6541.5314

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Competitors

Qantas Airways Limited
China Airlines Ltd.
PT Garuda Indonesia (Persero) Tbk Class B
China Southern Airlines Company Limited Class H
Cebu Air Inc.
PAL Holdings, Inc.
Spring Airlines Co., Ltd. Class A
JG Summit Holdings Inc.
Asia Aviation Public Co., Ltd.

Last Updated on 3 Feb, 2023