Part 2 of this analysis shall focus more on the operational and qualitative aspects of the Company, and will be shorter (thankfully!) than Part 1. I will touch briefly on operational performance, major events (for MRO and JVs) as well as talk a little about prospects for SIAEC in a new untapped consumer segment for airlines. Operational Performance Line maintenance saw a +4.4% increase in flights handled at Changi Airport, from 54,546 to 56,967 for the half-year. The good news is that four new contracts were signed with established companies such as UPS and DHL (logistics and freight forwarding companies), while three contracts were renewed (Jetstar Asia, Air China and Air Mauritius). The issue I have is that the presentation slides do not show if SIAEC actually lost any customers. If we assume that they are simply building on their base with four new contracts then it would ......