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SIA Annual Report 04/05 27
The company was selected by
Formula One to carry its media
equipment and Formula One cars for
five races. Six charters were operated.
NOKIA Corporation also selected SIA
Cargo as one of its preferred carriers
for its intra-Asia and Asia-South Pacific
distribution network.
A Global Forwarder Programme
was initiated to strengthen the
commercial relationship with
multinational forwarders. SIA Cargo
also joined Cargo 2000: an industry
organisation comprising 18 airlines,
10 global forwarders and 7 industry
associates to provide a common
platform for service quality and
industry standards.
A new revenue accounting system,
which provides integrated revenue
accounting platform and real-time
analysis of sales and revenue
performance, was implemented.
Following the Indian Ocean tsunami
disaster in December 2004, SIA Cargo
carried more than 400 tonnes of relief
and medical supplies to the affected
countries at no charge.
SIA Cargo continued to receive
acknowledgement for its service
during the year. It was voted Best Air
Cargo Carrier for Asia by the readers
of Cargonews Asia and Best Air Cargo
Carrier by the readers of Lloyd's Freight
Transport Buyer Asia.
SilkAir
Like its parent company, this was a
year of strong growth for SilkAir. The
regional airline posted a net profit of
$30.6 million for the financial year.
This represented a rise of 94.9 per
cent over the same period last year.
The year also saw SilkAir carrying a
record of more than one million
customers: the highest ever uplift since
its inception in 1989.
Overall the airline turned in an
admirable performance for the year
in review, despite the emergence of
a new generation of start-up carriers
in the region. This was, in part, due
to judicious efforts to restructure its
route network, grow interline sales
from its parent airline, enhancements
to its product and services as well as
through more effective branding and
marketing activities to grow both
mindshare and marketshare. SilkAir
also continued to place strong
emphasis on prudent and sustainable
cost management.
The year also saw the airline launch
services to new destinations to expand
the group network. In June 2004,
SilkAir commenced twice-weekly
services to Chongqing. This service
was increased to thrice-weekly in
November 2004. A thrice-weekly
service to Da Nang followed in January
2005. Following the signing of a
tripartite codeshare agreement with
Malaysian Airlines and Singapore
Airlines, SilkAir launched four-weekly
scheduled services to Kuching, in
March 2005. SilkAir also operated
charter flights to a number of regional
destinations including six to Quilin,
and two to Darwin during the year.
Following an extensive network
review to maximise profitability, the
airline suspended its twice-weekly
services to Macau in December 2004
and Krabi in February 2005.