Singapore Airlines 2009 Annual Report Download - page 27
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25
SINGAPORE AIRLINES CARGO
SIA Cargo reported a $245 million
operating loss in the year in review.
The fi nancial year proved to be a
challenging one for the air freight
industry, with volatile fuel prices
and currency exchange rates,
and the onset of the global
economic downturn.
SIA Cargo continued with its
variable frequency approach to
its freighter network to better
match capacity with cargo
demand. On a planned basis,
services were reduced during
lull periods and additional
services were scheduled during
periods of stronger demand.
The company also embarked
on network restructuring
initiatives to rationalise freighter
routes for improved network
connectivity, and to create new
sales opportunities. Charters were
mounted to new points such as
Santiago (Chile), Quito (Ecuador),
Bogota (Colombia), Dar es Salaam
(Tanzania), Abuja (Nigeria) and
Buenos Aires (Argentina).
Despite the economic downturn,
SIA Cargo remained steadfast
in delivering quality service and
reliable standards to customers.
As a testament of its quality
commitment, it was consistently
ranked among the leaders in
the Cargo 2000 industry service
benchmark during the year.
The company strived to foster
closer cooperation with its
customers to create more mutual
benefi ts. During the year in
review, nine business partners
pledged their support by renewing
participation in the Global
Partnership Programme. SIA
Cargo also received support from
shippers of various industries,
including motor sports, electronics
and horseracing.
SIA Cargo was one of seven
pioneer airlines involved in
launching the IATA e-freight
initiative in November 2007.
During 2008, the company
implemented e-freight capability
at eight new locations (Auckland,
Sydney, Dubai, Seoul, Paris,
Copenhagen, Frankfurt and
Zurich), giving it a total of 12
e-freight enabled stations in its
network. Four more locations
– Tokyo, Kuala Lumpur, Beijing
and Brussels – are planned by the
end of 2009.
In the face of the challenging and
uncertain business environment,
SIA Cargo will remain nimble and
disciplined in the deployment of
its resources, and continue to be
vigilant on cost management.