Singapore Airlines 2015 Annual Report Download - page 17
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 |
at the premium end of the spectrum, Scoot and Tigerair are
increasingly providing feed to each other, which is a win-win for
both airlines as well as for the Singapore hub.
A key element of the SIA Group’s multi-hub strategy also saw
significant development during the financial year, with Vistara
launching services as India’s newest full-service airline in
January. The new airline is a joint venture with Tata Sons and
we are positive about its prospects, given the huge potential
of the Indian market for sustained growth in both domestic
and international travel. Scoot’s new joint venture airline in
Thailand, NokScoot, also secured its air operator’s certificate
during the financial year.
Market conditions remain challenging, but a strong balance
sheet continues to benefit the SIA Group as it gives the Board
and Management the confidence to invest and take a long-term
approach, which is vital for our business. In addition to the
strategic initiatives outlined above, we are focused on boosting
revenue through the KrisFlyer frequent-flyer programme, which
will be increasingly important in the years ahead, and in new
business ventures, such as the Airbus Asia Training Centre.
Amid the challenges, we have much to be proud of. We remain
the world’s most awarded airline, and this is in large part due
to the dedication of our sta, who focus every day on providing
the best travel experiences to our customers. To our employees
around the world, my thanks to you all, for ensuring that
customer service remains a true dierentiator.
I would also like to thank my fellow Directors for their
contributions during the past year, and in particular Jackson
Tai, who retired from the Board aer having served as a Director
since 1 September 2011.
To our shareholders, I wish to thank you for your continued
support for our strategic initiatives. It will naturally take time
for the new investments to produce solid results, but they
are necessary to strengthen the SIA Group, to ensure that the
decades ahead are as fruitful as those behind us.
Stephen Lee
CHAIRMAN
Singapore Airlines | Annual Report FY2014/15 | 15