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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 SGDUSD
Revenue7,614.80M5,646.20M
Gross Profit-198.60M-147.25M
Operating income-872.50M-646.93M
Income before tax-973.90M-722.12M
Net income-962M-713.30M
EBITDA1,127.10M835.71M
Diluted EPS-0.16-0.12
Dividends Per Share----
Total Assets48,671M35,963.35M
Total liabilities25,870.60M19,115.97M
Total equity22,411.90M16,560.31M
Operating cash flow2,833.90M2,101.27M
Currency in SGDCurrency in USD

Historical Data

 Mar 2018Mar 2019Mar 2020Mar 2021Mar 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 -872.50M
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 1,127.10M
Diluted EPS 0.77 0.40 -0.12 -1.15 -0.16
Dividends Per Share 0.28 0.21 0.05 0 --
Total Assets 26,021.40M 30,632.80M 33,712.80M 37,581.30M 48,671M
Total liabilities 12,793M 16,949.60M 23,980.10M 21,303.20M 25,870.60M
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 2018Mar 2019Mar 2020Mar 2021Mar 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 -646.93M
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 835.71M
Diluted EPS 0.56 0.29 -0.09 -0.84 -0.12
Dividends Per Share 0.20 0.15 0.04 0 --
Total Assets 19,843.88M 22,615.57M 23,677.21M 27,970.60M 35,963.35M
Total liabilities 9,755.92M 12,513.54M 16,841.73M 15,855.31M 19,115.97M
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-2.23%
ROE-5.02%
Operating margin-11.45%
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) (55.5%)
  • The Vanguard Group, Inc. (1.0%)
  • BlackRock Fund Advisors (0.8%)
  • Norges Bank Investment Management (0.6%)
  • Singapore Airlines Ltd. (0.3%)
  • Dimensional Fund Advisors LP (0.3%)
  • iFAST Corp. Ltd. (0.2%)
  • Geode Capital Management LLC (0.2%)
  • State Street Global Advisors Singapore Ltd. (0.2%)
  • BlackRock Advisors (UK) Ltd. (0.2%)

Contact Details

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

Related Companies

  • Sing-Bi Funds Pte Ltd.
  • Encounters Pte Ltd.
  • Singapore Airlines Ltd. (Brazil)
  • Budget Aviation Holdings Pte Ltd.
  • Singapore Flying College Pte Ltd.
  • Cargo Community Network Pte Ltd.
  • Singapore Airlines Korea
  • Singapore Airlines Ltd. (Ireland)
  • SilkAir (Singapore) Pte Ltd.
  • RCMS Properties Pvt Ltd.
  • Tradewinds Tours & Travel Pte Ltd.
  • Singapore Aviation & General Insurance Co. Pte Ltd.
  • Singapore Airlines Ltd. Sucursal en Espana
  • Singapore Airlines Cargo Pte Ltd. (California)
  • SIA Properties Pte Ltd.
  • SIA Engineering Co. Ltd.

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.
  • SpiceJet Limited
  • Spring Airlines Co., Ltd. Class A
  • JG Summit Holdings Inc.
  • Asia Aviation Public Co., Ltd.
Last Updated on 28 Jun, 2022

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