When I attended the Singapore Airlines 2017 AGM the year before, the airline was in the midst of a challenging period – the group had reported a 55% drop in net profit and suffered over a billion dollars in losses in fuel hedging costs over the last two years due to the plunge in oil prices.
Things are looking better for Singapore Airlines (SIA) this year as it reported a 69.8% increase in operating profit year-on-year to S$1.06 billion, and a 147.8% increase in net profit to S$892.9 million. In July, SIA was also named the world’s best airline in Skytrax’s 2018 World Airline Awards.
SIA looks to have turned a corner, but the airline continues to face intense competition in key markets. I decided to attend the its recent annual meeting to find out how the airline intends to stay ahead of the competition in ......