Singapore Airlines 2002 Annual Report Download - page 13

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OCTOBER 2001
·SIA’s stake in Air New Zealand is reduced
to 6.47 per cent following a recapitalization
package which sees the New Zealand
Goverment invest NZ$885 million in new
ordinary shares and new convertible
preference shares in Air New Zealand.
If the new convertible preference shares
are subsequently converted into ordinary
shares, SIA’s equity interest in Air New
Zealand will be further diluted to
4.5 per cent.
·SIA and Virgin Atlantic Airways launch
their first codeshare service between
London and Singapore.
·Managers of SIA and its major subsidiary
companies accept salary reductions of
between seven and 15 per cent as part
of the Group’s efforts to contain costs.
The Board and Senior Management had
earlier volunteered a reduction in wages
and directors’ fees. All other staff
subsequently followed suit, agreeing to
wage cuts of 2.5 to 5 per cent.
·SIA announces the suspension of
services to Kota Kinabalu, Kuching and
Macau. All three destinations are
currently served twice a week.
·The SIA Group announces a $485 million
operating profit for the half year ending
30 September 2001, a 35.9 per cent drop
over the same period in 2000. The SIA
Board declares an interim gross dividend
of 3 cents a share, down 12 cents from
the previous year.
NOVEMBER 2001
·SIA and Airbus agree to defer the
delivery dates of ten A340-500 aircraft,
five of which are on firm order and five
on option. Delivery of the first A340-500,
due in January 2003, is now planned
for October 2003.
·Due to the planned reduction in services
from January 2002, SIA releases 114
trainees who are undergoing training as
cabin crew. Subsequently, 35 of these
trainees join SilkAir as cabin crew.
DECEMBER 2001
·The Singapore Flying College (SFC)
announces that it has chosen Queensland’s
Sunshine Coast as the location for its
Advanced Flight Training Operations.
Aeromil (Australia) Proprietary Limited is
awarded the preferred supplier for
maintenance and support services for
SFC’s four Learjet 45 training aircraft.
JANUARY 2002
·SIA’s three-times-weekly Singapore-
Amsterdam-Chicago service, launched on
1 August 2001, is temporarily suspended.
·Singapore Airlines Cargo launches
Securerider, a new freight product
designed to meet customer needs for
high security in the transportation of
valuable and vulnerable goods.
·SIA and Boeing agree to defer the
delivery dates of five B777 and one
B747-400 freighter aircraft.
FEBRUARY 2002
·SIA resumes flights to Pakistan with
a three-times-weekly service to Karachi
and Lahore. Previously, SIA had
operated four times a week.
MARCH 2002
·SIA is ranked 50th in Fortune’s list of
Global Most Admired Companies. SIA
achieves an overall score of 6.38,
making it the industry leader among all
airlines included in the poll.
·SIA launches a new Internet check-in
service that allows customers to choose
their seats up to two days before departure.
Users can view a real-time seating plan
while choosing their desired seats.
·An enhanced SMS service called “My
Flight Alerts” is introduced. KrisFlyer
and PPS Club members can activate
up to 30 flight alerts and will be
automatically notified of any flight delays
exceeding 30 minutes.
·SIA announces plans to launch a three-
times-weekly B777-200ER service to
Las Vegas, via Hong Kong. It will be
the first direct service between South
East Asia and Las Vegas.
SIA Annual Report 01/02 11