Singapore Airlines Ltd, the sixth-worst performing stock in Singapore last year, may have an even rougher ride this year. Competition from a slew of startup carriers and the potential for another SARS outbreak are making investors wary of Southeast Asia's biggest airline.
\nSingapore Airlines and its regional unit SilkAir Pte already battle cheaper fares offered by Jakarta-based Lion Air and Malaysia's AirAsia Sdn. From this year, Singapore Airlines will compete with Singapore-based Valuair Ltd and even its own Tiger Airways, a discount airline it's setting up with Indigo Partners LLC and Irelandia Investments Ltd.
\n"The main overhang on Singapore Air's performance has been the low-cost carriers and what they're going to do," said Caleb Woo, who holds Singapore Airlines shares in the US$1.4 billion he helps oversee at DBS Asset Management Ltd in Singapore. "There are a lot of people who are attracted by cheaper fares. There will be some detrimental impact."
\nSingapore Airlines, 57 percent-owned by the government, trimmed wages and fired almost 600 workers last year, the biggest job cuts in its history.
\nStill, questions about whether Singapore is doing enough to remain an aviation hub were raised this month by Lee Kuan Yew (
CLOSED FOR DISINFECTION: Two of the three local cases were linked to a cluster infection at a kindergarten, while the other case works at a McDonald’s restaurant The Central Epidemic Command Center (CECC) yesterday reported three new local COVID-19 infections and 11 imported cases, but no deaths. The local cases are two men and a woman aged between 20 and 80 who reside in Taipei, New Taipei City and Taoyuan, the CECC said in a news release. Two of them are linked to a cluster infection at a kindergarten in New Taipei City’s Banciao District (板橋), said Centers for Disease Control Deputy Director-General Chuang Jen-hsiang (莊人祥), who is the CECC’s spokesman. He said they are both associated with the mother of a kindergarten student, who was earlier confirmed to have
BIOLOGICAL AGENT: A containment exercise was held in southern Tainan, in response to a mock assault where troops were assumed to be attacked by bioweapons The live-fire component of this year’s annual Han Kuang military exercises, Taiwan’s major war games involving all military branches, began yesterday morning and is to run until Friday to test the armed forces’ capability to fend off a Chinese invasion. The 37th edition of the annual event officially began after the Ministry of National Defense’s Joint Operations Command Center, also known as the Hengshan Command Center, announced the initiation of the five-day live-fire drills. Yesterday’s drills were focused on testing the military’s preservation and maintenance of combat capabilities in the event of a full-scale Chinese invasion. As part of the drills, air force
‘RAISING TAIWAN’S VISIBILITY’: Premier Su Tseng-chang said changing TECRO’s name to include ‘Taiwan’ would make the representative office more recognizable The Ministry of Foreign Affairs yesterday declined comment on a Financial Times report that the name of Taiwan’s representative office in Washington might be changed, saying only that bolstering and upgrading ties with the US has been the government’s long-term objective. The ministry made the comments after the UK-based newspaper reported on that US President Joe Biden’s administration is considering allowing the government to use the word “Taiwan” in the office’s title. The US is “seriously considering a request from Taiwan to change the name of its mission in the US capital from ‘Taipei Economic and Cultural Representative Office’ [TECRO] to ‘Taiwan
WELCOME BACK: Foreign spouses or minor children of Taiwanese can now directly apply for a visa with representative offices overseas, the CECC said Regulations on applications for entry to the nation by foreign spouses or minor children of Taiwanese have been relaxed effective immediately, the Central Epidemic Command Center (CECC) said yesterday, as it reported two new local and three imported cases of COVID-19. Deputy Minister of the Interior Chen Tsung-yen (陳宗彥), deputy head of the center, said the relaxation meant that such applications would be treated as general cases, instead of special ones that are reviewed on a case-by-case basis. “Considering the recent local COVID-19 situation and the needs of foreign spouses and children to visit their family in Taiwan, we are allowing Taiwan’s