Word: sia
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Dates: during 2000-2009
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Singapore Airlines (SIA), will spend $9.4 million this year on wine and spirits. And SIA is giving no thought to cutting back...
...with U.S. and European carriers going bankrupt and slashing staff, flights and passenger amenities, Singapore Air is flying resolutely and profitably against the wind. It is bringing its fine wines--and its lobster thermidor, its flat-opening sleeper seats and its famous Singapore Girls--to an airport near you. SIA's recent expansion to 45 U.S. flights a week is great news for the cadre of U.S. business travelers who can pay extra to fly what many consider the world's best airline. But it's a blow to the likes of American Airlines, Delta and United. How will they...
...those rankings or trim passenger amenities as its U.S. rivals are doing, Singapore Air plans to spend $100 million by June to improve its business cabins, mainly by adding beds on every long-haul plane in the fleet. Despite these investments--and unlike most of its competitors--government-backed SIA is making good money. Profit of $358 million made it the second most profitable passenger airline in the world in 2001, behind only Southwest Airlines ($511 million). For the six months ending last September, the latest period reported, profit was $443 million (at least by the unique accounting standards...
Consistency--a trait rare in the airline industry--has been a hallmark of SIA's management. CEO Cheong Choong Kong, 61, who will leave the airline in June, has run the show for nearly two decades, having worked his way up from an assistant manager for reservations. After taking over in 1984, he moved aggressively to stretch the airline worldwide; he was the main proponent of Singapore's successful push to become the first Southeast Asian country to sign a bilateral open-skies agreement with the U.S, in 1997. This treaty lets the airline fly to any American city...
Cheong stunned the industry in 1991 when he told McDonnell Douglas that its new, much anticipated wide-body aircraft, the MD-11, did not meet SIA's long-haul performance specifications. Cheong canceled a $3.1 billion order and opted for the Airbus A340-300 instead...