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Strategic Management The Singapore Airlines audit

This work focuses on the position of Singapore airlines in the European market. By auditing its resources and capabilities, we’ll be able to determine Singapore airlines’ (commonly abbreviated “SIA”) threats and opportunities on which it is exposed.

Company’s background: an overview of Singapore Airlines1

The story of Singapore Airlines (SIA) began in May 1947, when Malayan Airways operated its first commercial link between Singapore, Kuala Lumpur, Ipoh and Penang. The company, renamed Malaysian Airways in 1963 and Malaysia-Singapore Airlines in 1966, was then split in 1972 to become Malaysia Airline System (since renamed Malaysia Airlines) and SIA. For over half a century, Singapore Airlines has earned a reputation of being an innovative carrier, offering a quality product coupled with excellent service.

SIA operates a network of 63 destinations in 35 countries in Asia, Europe, North America, the Middle East, South-Western Pacific and Africa.

SIA is known to have one of the most modern fleet with a median age of 6 years. SIA’s success is often attributed to its service excellence. Impeccable service on board is the foundation of his reputation in the field of customer service and hospitality. It was the first to offer, in the 1970s, benefits like free headset, a selection of drinks and free meals in the economy class and to install, since 1991, satellite phones on board. Constant innovation is made to improve In-flight entertainment (KrisWorld) such as the large availability of movies and music (now in High Definition) and for the first time, digital books. It has also innovated by raising the standards of meals with the formation of its International Culinary Panel and the introduction of the concept World Gourmet Cuisine.

In 2004, Singapore Airlines marked a historic milestone with the introduction of the longest direct commercial service between Singapore and New York (Newark).

The care and attention that Singapore Airlines offers its customers, symbolized by the Singaporean girl, brought the company many awards from the airline and tourism industry, including "Best International Airline" Conde Nast Traveller's for 21 last year, "Best International Airline" Travel and Leisure for 14 consecutive years and "Most Admired Singapore company" Wall Street Journal for 17 years.

1 http://www.singaporeair.com/en_UK/about-us/sia-history/

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Today, SIA has more than 13,000 employees and 100 aircrafts23. SIA is situated at Changi Airport along with subsidiary Silkair and Tiger Airlines4 (32.84% owned by Singapore airlines). Other subsidiaries are the newly launched Scoot Airlines, SIA Cargo, SIA Engineering.

SIA owns a loyalty program named KrisFlyer, in which Members enjoy a series of global redemption promotions on selected flights throughout the year, in addition to local offers and partner privileges.

“People Development” is the asset SIA develops in order to maintain innovation and its high level of service quality. The Singaporean Government provides staff with training related to leadership and people management, service excellence and employability skills. A new learning framework was implemented for general staff, executives and managers, focusing on improving their core competencies as they progress in their career.

Corporate mission/ Singapore Airlines’ commitment5

"Singapore Airlines is a global company dedicated to providing air transportation services of the highest quality and to maximizing returns for the benefit of its shareholders and employees."

Corporate Image“SIA has consistently been one of the most profitable airlines globally, and has always had the reputation of a trendsetter and industry challenger.”

(by Martin Roll from http://www.brandchannel.com)

2 Singapore airlines’ 2010/2011 annual report3 http://www.singaporeair.com/en_UK/about-us/sia-history/sia-fleet/4 http://www.tigerairways.com/id/en/about_us.php5 http://www.singaporeair.com/en_UK/about-us/

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Service innovationsFirst to offer free headsets, a choice of meals and free drinks in Economy Class, in the 1970sFirst to introduce satellite-based inflight telephones in 1991First to involve a comprehensive panel of world-renowned chefs, the International Culinary Panel, in developing inflight meals in 1998First to offer audio and video on demand (AVOD) capabilities on KrisWorld in all classes in October 2001First to operate the world’s longest non-stop commercial flight between Singapore and Los Angeles in February 2004 on the A340-500, and then surpassing the record (in terms of distance) later that year with the non-stop service to New York (Newark), in June 2004First to fly the A380 from Singapore to Sydney on 25 October 2007

Technological innovationsSIA to fly the newest aircrafts (Boeing 747 jumbo jets, Boeing 777 and became the first airline to fly the Airbus super jumbo A-380 in 2006)SIA flew the concord between London and Singapore (in partnership with British Airways) carrying crew from both airlines

The strategy behind the technology program is

To enhance cost efficiency (Newest aircrafts are more fuel efficient) SIA uses these events for marketing purposes. An example of below the line communication was the launch of the new non-stop services to Los Angeles and New York in 2004, which attracted huge publicity in global media and shown that SIA kept its innovation promise alive. The special aircrafts for these long-range routes (Airbus A340-500) are sub-branded Leadership to further distinguish the brand promise. Those marketing actions aim to attract the “early-adopters” and increase brand awareness by being a First Mover, people know that SIA was the first to fly the Airbus A380 but few people remember who the second one was… A first mover position is ideal to acquire customer’s loyalty (further enhanced with the KrissFly program)In a mean time, Singapore Airlines recognizes that each innovation has a relatively short life span. Once other airlines adopt it, it is no longer considered “innovative.” Therefore, SIA continues to invest heavily in R&D through its SIA Engineering subsidiary. Innovation and technology is an integrated part of the business strategy to clearly differentiate itself from its competitors.SIA engineering signed a Joint-venture partnership with Panasonic to set up a Singapore-based facility for the production of in-flight entertainment and communications systems (IFEC) and components produced by Panasonic Avionics. The facility will meet the growing demand for IFEC support of new-generation aircraft. This is done in order to meet SIA’s customers’ expectations of the ideal in-flight entertainment experience.

The Singapore Girls strategySingapore Airlines’ flight attendants, The Singapore Girls, are the personalization of the Singapore Airlines brand and are largely represented in their commercials6. SIA engaged French haute-couture designer Pierre Balmain at the inauguration of the airline in 1972. He designed a special version of 6 http://www.youtube.com/watch?v=WlAkh7JT-7o

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the Malay sarong kebaya as the uniform, which later became one of the most recognized signatures of the airline.

The Singapore Girl embodies the brand’s selling proposition: a caring, warm, gentle, elegant and serene flightThey have become the brand’s icon. Madame Tussaud’s Museum in London started to display the Singapore Girl in 1994 as the first commercial figure ever.

Singapore Airlines also runs one of the most comprehensive and rigorous training programs for cabin and flight crew in the industry to make sure the SIA brand experience is fully and consistently delivered.

PositioningAs perceived in their latest commercials, Singapore Girl as a central ingredient in SIA’s image. The focus isn’t on cabin design, food, comfort and pricing anymore, which is a strategy that many companies have overused. SIA prefers to personified through the girls, so customers get a emotional experience of air travel with SIA’s commitment to service and quality excellence. http://www.youtube.com/watch?v=fNEJrd6GkSY

General EnvironmentHere are analyzed the major threats and opportunities for SIA in Europe.

Political environment - Uncertainty of the future of the EU (Will Greece step out of the Euro-zone? Will SIA have to deal with many European currencies like it was the case prior to 2001?)

- Liberalized and relaxed policies – anti monopolistic laws7

- Rising of socialism in the south of Europe. Might increase taxes

Economical environment Europe is an heterogeneous market, economically speaking

- Negative EU’s current account balance: - 32,720,000,000 US$8

- PIIGS (Portugal, Italy, Irland, Greece and Spain) were badly impacted by the crisis9

- Rising fuel costs - Low inflation and low growth rate- Crisis perception in Europe, decreasing demand for high-

end services. First-class seats left unbooked10

- The Euro is becoming weaker against the Singaporean Dollar = threat and opportunityOpportunity = They pay cheaper what they buy in the EUThreat because they get paid less from EU customers

- Emergence of the ASEAN countries (Southeast Asia). Shifting from a labor-intensive market towards a consumers’ market

7 http://adg.stanford.edu/aa241/intro/airlineindustry.html8 CIA the world factbook – European Union9 http://www.bloomberg.com/news/2012-05-16/singapore-airlines-to-halt-athens-abu-dhabi-flights.html10 http://www.centreforaviation.com/analysis/is-the-full-service-airline-business-model-broken-network-airlines-face-a-tipping-point-6049

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Demographic factors - High concentration of businesses in both Europe and Singapore

- Increase of population in AsiaSocio-cultural environment - Rising trend for travelling

- Rising trend for “exotism”11

- Europe Asia (Business trips and tourism)12

- EuropeAustralia (Tourism)13

- Prestige (Business and First Class)- Immigration

Technological environment - Internet access and penetration (Also increasing use of smartphones application and 3G network access)14

- Development of Bio-fuels / Cost effective aircrafts- Reducing stop-overs through better engines- Improved touch-screen technology (such as in

smartphones and tabs)- Improvement in Hard disk drive data capacity

Environmental factors – Legal Environment

- Storm- Carbon Pollution - Influenza- Noise Pollution- (Terrorism)

Legal environment - Airport tax- Tax on added value- European Union Emissions Trading Scheme (EU ETS)15

(will increase flight fares16)- Open Skies policies

Opportunities and Threats AnalysisOpportunities

Research and development to overcome fuel priceSoutheast Asia is an emerging consumer market. Asians prospects to be targeted in SIA’s future communication-mix.Research and development to improve inflight entertainmentRising penetration of internet and social networks to increase contact with the targetA strong and increasing Singaporean Dollar makes the purchase of European products more affordable (Airbus carriers, loan of airport facilities)Singapore Airport to become a hub towards the emerging ASEAN region (Malaysia, Thailand, Brunei Darussalam, Cambodia, Indonesia, Laos , Malaysia, Myanmar, Philippines, Singapore, Thailand and VietNam)

11 http://adg.stanford.edu/aa241/intro/airlineindustry.html12 idem13 idem14 http://m.singaporeair.com/redirect.html15 http://www.centreforaviation.com/analysis/eu-ets-and-the-aviation-industry-between-a-rock-and-a-hard-place-5214616 http://www.guardian.co.uk/environment/2012/may/15/eu-airline-emissions-tax-success?newsfeed=true

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Rising trend for travelling and backpacking. Southeast Asia is often referred as the “honeymooners’ area”. SIA could launch some promotional packages: Return Ticket + Tour + AccomodationCreation of survey through SIA’s Facebook page

Threats

Economic crisis…… might lead to tax policy reinforcement…… and decreases people’s need for Esteem if the need for (economic, job) safety is not satisfied (Maslow, 1954) Rising fuel costA strong Singaporean Dollar (compared to the Euro) reduces the company’s price competitiveness and/ or the company’s turnoverThreats coming from the industry itself (see 5 forces of Porter)

Porter’s 5 forcesThreat of New Entrants:

High infrastructure cost

- Airport facilities cost, cost of aircrafts, cost of technology, cost of training, cost of pilots, flight attendants, management, marketing, HR and finance.

- Hard to get a loan

Brand name recognition

Airlines are already well established in their market and have acquired know-how. Some markets are hard to steal for competitors because some brands benefit of a strong image

(ex : low-cost in Europe = Ryan Air)

Power of suppliers: only two aircrafts manufacturers: Boeing and Airbus However, those two companies are not profitable and exist only through subsidies. In order to reduce their deficit, Boeing and Airbus compete on providing the most efficient plane possible.

Power of buyers: Unless you are bond to a loyalty incentive, switching cost is nil.

The major routes from Europe to Singapore are taken by Lufthansa, British Airways, Cathay Pacific, Thai Airways, China Airlines, KLM Air France among others. Buyers enjoy a large panel of choice from which to choose. The majority of airline consumers (economy class) are highly price sensitive.

First-class customers are more loyal because they subscribe to loyalty programs (switching cost) but, regarding to the Pareto principle, they represent a large share of the turnover.

Substitute

- The Orient Express (Sankt Petersburg – Vladivostok)

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No Maritime substitute (boat would be a too long trip)

No Road substitute

No low cost companies for long-haul trips although Air Asia is getting close to it

Competitive Rivalry

As said above, close substitutes are numerous and competition among the industry is very high. This is due to the open skies policies which liberalize the airline market.

- The market is open to numerous airline companies- Airlines companies tend to copy each others on services and price range

Internal environment

Internal resources and capabilities17

Developing cost advantages to support its differentiation strategy

Singapore Airlines' brand strategy is a relatively high-cost strategy (expenditure in training, technology, purchase of the newest and most equipped aircrafts). SIA has carefully built strong financial assets to be able to afford the purchase of the newest (and especially the most cost-efficient) aircrafts and technologies (to minimize maintenance costs and avoid aircraft downtime) with limited interest costs18(instead of leasing them).

Resources

Tangible resources

The newest aircrafts (i.e. the first company to acquire the Airbus A380)Changi airport the home of Singapore Airlines is one of the largest freight handling facilities in the world, and is the most popular hub in AsiaSIA has its own Training facilitiesSIA processes it own engineering subsidiary (maintenance and innovation)On-board technology Unique Flight-attendants’ outfitInternet website, social networks’ page and smartphones applicationFinancial assets

a. Revenuesb. Shareholders’ funds SIA’s Treasury is important but costs are huge as well in this

sector. Because the airlines industry is highly competitive and pressure on reducing airfares price are high, margins end up being low

c. Government ownership through Temasek Holdings.

Unfortunately, those resources are:

17 http://www.venturerepublic.com/resources/singapore_airlines_-_an_excellent_asian_brand.asp18

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- Common- Imitable- Easily substituted- Often taken for granted by consumers

Even though the Singaporean government and SIA have invested in the Changi Airport, which has the best connectivity of any ASEAN hub and is the most important gateway into the region from Europe and Australia together, SIA does not possess any monopoly due to the open skies policy.

Intangible Resources

Strong branding, Perception of quality, comfort and softness promoted especially by their flight attendants: the Singapore girls providing world-class standard services (the business class beds, the gourmet food and the lounges)19. This allows a strong emotional connection between the brand and the customers.High Staff expertise (hospitality knowledge and skills) due to high trainingGreat management and marketing team driven by innovation and customer’s satisfactionInnovators image (campaigns about the A380; "First to Fly the Airbus A380")

Those resources are sustainable and non-substitutable and are the source of SIA’s core competencies.

Capabilities

Effective staff trainingExpansive destination coverage due to Star AllianceEffective external and internal communication Spend money on innovation in order to improve customer’s experience.Freight facilities that links with the port shipping authority20

19 http://simpliflying.com/2011/interview-singapore-airlines-brand-strategy-goes-back-to-the-basics-singapore-girl-in-focus/20http://www.caas.gov.sg/caas/en/About_CAAS/Our_Strategic_Thrusts/Aviation_Industry_Development/ Air_Cargo_x_Logistics_Hub/Connectivity_to_the_World.html

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Is the resource or capability21:

- Valuable? The capability allows the firm to exploit opportunities or neutralize threats in its external environment.- Rare? Capabilities that few, if any, of its competitors possess.- Costly to imitate: capabilities that other firms cannot easily develop. This does not simply mean it is expensive to imitate, it

means it is difficult to imitate.- Non-substitutable: the capability does not have a strategic equivalent. It means that there is not two ways to obtain a

certain asset.

Is the resource or capability valuable?

Is the resource or capability rare?

Is the resource or capability costly to imitate?

Is the resource or capability non-substitutable?

Competitive consequences

Performance implications

Finance Yes No /// YesUnique Brand- image / Reputation

Yes Yes Yes Yes Sustainable competitive advantage

Above-average return

External Communication

Yes No Yes No Competitive parity Average return

Internal Communication / Management

Yes Yes Yes Yes Sustainable competitive advantage

Above-average return

In-Flight comfort and service

Yes Yes No No Temporary competitive advantage

Above-average return

Staff Training/ Hospitality

Yes Yes Yes Yes/No Temporary competitive advantage

Above-average return

Interior design Yes No Yes No Competitive parity Average return

21 Strategic Management: Competitiveness and Globalization, Concepts By Michael A. Hitt,R. Duane Ireland and Robert E. Hoskisson

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(First and Business class)Onboard Technology / Entertainment

Yes No No No Competitive parity Average return

Changi Aiport (HUB) Yes No No Yes Competitive parity Average returnNewest Aircrafts Yes No No No Competitive parity Average returnInternet website and iPhone App

Yes No No No Competitive parity Average return

Airport Facilities / Lounge

Yes Yes Yes Yes Sustainable competitive advantage

Above-average return

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Core competencies

- Staff training (Flights attendants) - Managerial skills- Branding

- Interior design (making flights as comfortable as possible)

- Service (Catering, drinks)

- Own engineering/ service-prod innovation

Support Activities

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HR MANAGEMENT : Emphasis on Flight attendants' recruitment and training / Pilot recruitment / Other staff's recruitment (in house, core competency)

FIRM INFRASTRUCTURE: Airport lounge, Accounting, Finance, Marketing, General Management. Innovation driven and highly cost-aware. Focus on Branding Strategy

TECHNOLOGY DEVELOPMENT: E-commerce ticketing site (outsourced), In-flight entertainment (Partnership with Panasonic) , Loyalty-program development. SIA is willing to be a pionneer on innovation

PROCUREMENT: Aircraft acquisition. First class: no compromises on quality

INBOUND LOGISTICS- Route selection- Yield management- Aircraft scheduling

OPERATIONS- Aircraft operation- Onboard services- Online Ticketing- Gate operation- Baggage Handling

OUTBOUND LOGISTICS- Flight connection- Baggage system

MARKETING & SALES- Emphasis on experience and emotion- Below-the-line (air shows showing the most recent fleet)

SERVICE - premium on hospitality - Quality meals - Unlimited beverages

MARGIN

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Primary Activities

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Strengths and Weaknesses AnalysisStrenghts

Winning service centered strategiesSolid financial assetsSolid experience of the marketBrand Image (promoted by the Singapore Girls)Prestigious image (5 star airline by SKYTRAX)22

Low staff costsYoung and cost-efficient aircraft fleetMaster of innovation

Weaknesses

High pricesHigh customer expectation(high sensitivity to service failure)Business-level strategy: SIA diversified in related industry and sectors comprised of over twenty subsidiaries23 and two joint ventures. (see next chapter for further information)

Business-level strategy

Market SegmentationMarket segmentation is the action of grouping customers having similar characteristics. Those characteristics differentiating segments are Geographic, Demographic, Social-Cultural, Economic, Psychographic and Behavioral.‡

Geographic

SIA in Europe has to deal with many different languages in order to reach the European target. Communication needs to be adapted in order to reach Europeans. In-flight announcements are usually communicated in the language of the countries of origin, of destination and in English.

Demographic and Economic

SIA segments on the basis of customer factual characteristics such as Family, Occupation and Income.

There are three classes: Economy (casual travelers), Business (business representatives) and First Class (very high income – high management); which varies on price, service and comfort.

A special service is provided for children travelling on their own24.

SIA decided to drop Athens as a destination because of financial turmoil there that has roiled Europe's economy.25

22 http://www.airlinequality.com/StarRanking/5star.htm23 http://www.singaporeair.com/en_UK/about-us/sia-history/sia-subsidiaries/24 http://www.singaporeair.com/en_UK/travel-information/travelling-with-children/25 http://travel.usatoday.com/flights/post/2012/05/singapore-airlines-greece/698337/1

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Social-Cultural

Special meals can be ordered (if ordered prior to the flight’s date) as a substitute to the regular meals served. Kosher/ Halal-food, vegetarian, vegan and any other food requirement can be met.

Psychographic

The psychographic segmentation aims to segment according to difference in customer’s behavior, such as values, personalities, attitudes, opinion, interest and lifestyle aspirations of each segment26. As stated before, SIA provides variations of cabin classes (First, Business and Economy) to meet the product needs and wants of people. In addition, SIA has differentiated into the Low-Cost Airlines with Scoot Airways and Tiger Airways in order to attract a market that have a simple need to reach their destination without the extras.

Behavioral

Singapore Airways put in place its Frequent Flyer program (KrisFlyer) in order to reward its customers who are loyal (high buyer readiness and commitment) and have a high frequency of consumption.

26 Marketing management by Philip Kotler and al.

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SIA has got an integrated cost leadership/differentiation strategy enabling the organisation to be innovative, cost effective and profitable in all periods of operation in order to target as much as segment as possible.

- Service (refer to the Value Chain) is an asset that SIA pushes forward in order to satisfy clients and attract prospects. SIA’s commercials emphasis on comfort and well-being promoted by the Flight attendants and the interior design of the first-class cabins. SIA uses the availability of cheap labor in Asia to recruit at low cost27. Though there is not cut in training and servicing (food beverage) as SIA is concerned to keep its hospitality image costs in order to keep the image of not

- The most modern aircraft fleet is SIA is an early adopter of the newest aircrafts which are also the most fuel-efficient28

27 Strategic Direction. (2004). Singapore Airlines’ Winning Formula: Cutting the Cost of Being the Best. In Strategic Direction, 20(9), 4-7.28 http://www.singaporeair.com/en_UK/about-us/sia-history/sia-fleet/

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Competitor analysis29

Airlines are competing in a multi-markets environment. Singapore Airlines, Lufthansa and Thai Airways might all flight the London-Singapore route, they will also compete with other airlines on other routes, which reduces the likelihood of competitive rivalry between each others. In fact, SIA also compete with freight-forwarders such as TNT through SIA Cargo and with Travel agencies through its own travel agency subsidiary (Tradewinds). Focusing on Singapore Airlines as a long-haul passengers carrier, 3 Airline companies will be analysed in this section. For this analysis, we will pretent that 3 companies compete in the same market (here: the London-Singapore route).

Note: “Market commonality” occurs when companies target prospects belonging to the same segment (here, the geographic segment).

Resources Singapore Airlines Thai Airways LufthansaYear of establishment

1947 1959 1926

Number of Aircrafts 106 90 411Passengers per year 18.293 million 18.17 million 58.841 millionSales Revenue (in US$)

US$ 9.38 billion US$ 6.06 billion US$ 13.99 billion

Number of scheduled destinations

63 71 211

Daily departures 180 125 1,900Traditional flight attendant outfit

- First mover- Slow pace

market

- Follower- Slow pace

market

///

Total service quality - High - High - HighCost of a one-way flight (London – Singapore) on the 1st July 2012 (Economy)

- GBP 670.7930 - GBP 662.0931 - GBP 90432

Idem (Business Class)

- GBP 2,165.99 - GBP 1,960.09 - GBP 1,774

Idem (First Class) - GBP 3,642.19 - GBP 8,269.09 - GBP 5,482

It is almost impossible to analyze accurately which airline company performs best. Lufthansa shows a relatively bad ratio when it comes to compare sales revenues and passenger per year but it might be because Lufthansa flights more short-haul routes than Singapore airlines and Thai Airways.

We can see that SIA proposes the most interesting fares by far for the First Class (largely advertized in its marketing campains). SIA has probably found a way to cut prices in order to attract the high-end segment. This is another proof of SIA adopting an integrated cost leadership/differentiation strategy.

29 http://www.staralliance.com30 http://www.singaporeair.com/booking-flow.form?execution=e2s131 http://www.lufthansa.com32 http://www.thaiairways.com/

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Corporate-level Strategy

Joint VenturesIn order to access greater resources, including specialized staff and technology, SIA’s engineering subsidiary (SIA Engineering Company) formed 25 joint venture involving partners from 9 countries. (List available at http://www.siaec.com.sg/our_network/our_network.html).

SIA allegedly stated that the Joint Venture strategy was used to “deliver faster turnaround times and better cost efficiencies to their customers”33. Those joint ventures allow SIA to approach highly qualified labor. SIA apparently wants to keep innovation in-house in order to integrate technological assets as a core competency.

An interesting point to mention is that maintenance cost is, after fuel cost and labor cost, the biggest expenditure for an airline company34. By diversifying its activity into maintenance services, SIA benefits from its competitors’ operation.

It is important to mention that companies that are strongly linked to technology do not want to wait for the technological environment to play in their favor. As SIA wants to remain a Prime Mover (a Pioneer) in the In-flight entertainment sector, it created a Joint Venture with Panasonic in order to benefit the exclusivity on the latest Inflight entertainment system that was specially designed for SIA35.

Subsidiaries As a diversifying strategy, the Singapore Airlines Group invests continuously in related businesses, rather than seek to diversify outside of the aviation industry. This way, SIA does not loose scoop of what it does best (focus on core competencies).

In addition to SIA Engineering Company, Singapore Airlines' main subsidiaries are SilkAir, Tradewinds Tours and Travel36and SIA Cargo.

SilkAir

Shares the same Frequent Flyer program as SIAServes a more regional market than SIA’s

Note: SIA’s low-cost subsidiaries Scoot and Tiger Airways also serve market segments that is unreachable to SIA. As CEO Chew Choon Seng said: ‘‘we intend to play in all the segments – SIA at the high end, Silk Air on middle ground and Tiger Airways at the low end’’37

Tradewinds excels in its role as the tour-operating arm of Singapore Airlines and SilkAir, offering a wide range of tours and travel packages to numerous destinations around the world. It manages the

33 http://www.siaec.com.sg/34 Singapore Airlines’ annual report35 http://www.mascorp.com/products/XSeries.aspx36 http://www.singaporeair.com/en_UK/about-us/sia-history/sia-subsidiaries/37http://www.bschool.nus.edu.sg/Departments/Marketing/Jochen%20papers/ jatmheracleouswirtzstrategyorganizationsingaporeairlines2009.pdf

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popular free-and-easy packages provided by the two airlines, including Singapore Airlines Holidays, SilkAir Holidays, as well as Singapore Stopover Holidays.

Singapore Airlines Cargo

Singapore Airlines Cargo operates to destinations around the world with its fleet of B747-400 Freighters. It also manages the cargo space on Singapore Airlines’ passenger aircraft. Its extensive network and strategic alliances enable it to deliver cargo to just about anywhere in the world.

http://www.siacargo.com

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