Singapore Airlines 2008 Annual Report Download - page 162

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Singapore Airlines Annual Report 2007-08
160
41 Reclassifications
Certain comparative figures have been reclassified to conform with current year’s presentation.
42 Subsequent Events
On 7 May 2008, Singapore Airlines announced an increase of the fuel surcharge for tickets issued on or after 12 May
2008. The adjustments will offer partial relief of higher operating costs arising from recent increases in the price of jet fuel.
On 4 April 2008, SIA Engineering Company signed a joint venture agreement with Cebu Pacific Air to set up an aircraft
heavy maintenance facility at Clark International Airport in the Philippines. SIA Engineering Company will own 65% of this
subsidiary, with Cebu Pacific Air holding the remaining 35%.
NOTES TO THE FINANCIAL STATEMENTS
31 March 2008