Singapore Airlines 2002 Annual Report Download - page 24

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SUBSIDIARIES AND ASSOCIATED
COMPANIES
Singapore Airlines Cargo
In July 2001, the Cargo division of Singapore
Airlines was corporatized and Singapore
Airlines Cargo Pte Ltd was born as a wholly-
owned subsidiary of Singapore Airlines.
The incorporation of Singapore Airlines Cargo
is part of a key strategy to grow the air
cargo business. The different nature and
demands of air cargo logistics require
special focus and dedication. This move
also sent a strong signal that SIA was even
more dedicated to developing the air cargo
business.
Singapore Airlines Cargo acquired all the
freighters and some other assets from SIA,
but continued to market the entire belly-
hold space in SIA’s passenger aircraft under
commercial agreements. In all, about 650
SIA staff joined the new cargo subsidiary.
Throughout the year, Singapore Airlines
Cargo strengthened its alliance with Lufthansa
Cargo and SAS Cargo, and expanded its
freighter network and capacity.
In March 2002, the alliance with Lufthansa
Cargo and SAS Cargo took a major step
forward. The three cargo airlines are now
able to offer harmonized “express” cargo and
“general” cargo products across each other’s
network. In conjunction with this development,
they launched a new brand name for the
alliance – WOW. With WOW, customers
will be able to easily book, transport and
track their shipments across the combined
networks of the three airlines.
Singapore Airlines Cargo customers can
now fly express shipments to 493 destinations
in 103 countries on five continents, via
a fleet of 31 dedicated freighters and the
belly-hold capacity of more than 630
passenger aircraft.
In September 2001 and February 2002,
Singapore Airlines Cargo took delivery of
its 10th and 11th B747-400 freighter aircraft.
As at 31 March 2002, its freighter fleet stood
at eleven.
In October 2001, Dallas-Fort Worth and
Munich were added to its freighter network.
In March 2002, Singapore Airlines Cargo
launched new services to Amsterdam, Dublin,
London, Munich, New York and Shanghai.
At the end of the year in review, Singapore
Airlines Cargo operated more than 600
scheduled flights a week across a network
linking 70 cities in 38 countries in five
continents.
The product range was also expanded with
the launch of Securerider – a product for
high value security cargo. This is the latest
addition to a stable of other premium
product offerings – Swiftrider and Timerider
for time-sensitive freight, and Coolrider for
temperature-sensitive cargo.
2002 marks the ninth consecutive year that
Singapore Airlines Cargo, or as it used to
be, the SIA Cargo Division, has been
awarded ‘Best Air Cargo Carrier – Asia’,
and the eighth year that it has been
awarded ‘Best Global Air Cargo Carrier’ at
the Asian Freight Industry Awards.
24 SIA Annual Report 01/02