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 (
‘FREEDOM WINE’: Taiwanese are empathetic of Australians, the president said, while lawmakers called on their constituents to drink Australian wine to show their support Taiwan would take action to back Australians at a time when they are “under tremendous pressure,” President Tsai Ing-wen (蔡英文) said yesterday, as tensions between Australia and China heated up. Taipei and Canberra have been mutually supportive in fighting the COVID-19 pandemic, especially in exchanging critical medical materials in the early stages, Tsai said, before chairing the Democratic Progressive Party (DPP) Central Standing Committee meeting in Taipei. Taiwan and Australia are like-minded nations, sharing the common values of democracy, freedom and human rights, while their economic and trade relations have also become close, she said. Canberra has been voicing support for Taiwan’s international
VIGILANCE: From tomorrow all arrivals must provide the result of a PCR test issued within three days of boarding, and the CECC asked people to report anyone who has faked their result The Central Epidemic Command Center (CECC) expects an increase in the number of returning travelers in the coming days, Minister of Health and Welfare Chen Shih-chung (陳時中) said yesterday, adding that the varying qualities of COVID-19 polymerase chain reaction (PCR) test reports from other countries is a big concern. Chen, who heads the center, was speaking to the media on the sidelines of a Taiwan Foundation for Rare Disorders scholarship award ceremony in Taipei. “As the global COVID-19 situation is worsening, and with some holidays coming up, there might be an increase in the number of overseas Taiwanese returning to Taiwan,” he
CECC RULES: The autumn-winter COVID-19 prevention program, including mandatory mask wearing in eight types of public venues and indoor facilities, begins today A temporary, two-week ban on Indonesian migrant workers entering the nation is to begin on Friday, the Central Epidemic Command Center (CECC) announced yesterday as it reported 24 new imported cases of COVID-19. Twenty of the new cases are Indonesian migrant workers who arrived between Nov. 11 and Friday last week, said Minister of Health and Welfare Chen Shih-chung (陳時中), who heads the center. The cases were discovered during a special project on Friday to conduct polymerase chain reaction (PCR) tests on all 939 recently arrived Indonesian migrant workers in centralized quarantine facilities, as the majority of imported cases in the past
Passports with a redesigned cover highlighting Taiwan would be issued starting on Jan. 11, the Ministry of Foreign Affairs said yesterday. The new cover design, which was announced on Sept. 2, highlights Taiwan by printing the word in a larger font. While the new passport cover retains “the Republic of China” in Chinese, the English name is printed along the outer circle of the national emblem, which would enable other nations to clearly identify that it is a Taiwanese passport, not a Chinese passport, the ministry said. The costs and application procedures for the new version are the same as