How do you become a millionaire? Sir Richard Branson has the answer:

“If you want to be a millionaire, start with a billion dollars and launch a new airline.”

As the founder of three airlines, Sir Branson made this joke as a point to how challenging the airline industry can be. Although more and more people are flying ever year, the industry is susceptible to intense price competition, volatile fuel prices, paralysing labour strikes, unpredictable weather conditions, and ongoing safety concerns. Even as one of the top airlines in the world, Singapore Airlines Limited (SIA) (SGX: C6L) is not immune to the myriad challenges faced by the industry. The SIA group reported a 55.2% drop in net profit to S$360 million in its latest 2016/17 financial year. Operating profit also fell 8.5% to S$623 million as group revenues continue to decrease over the last three years. It ......