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COVID-19: Singapore Airlines slashes 96% of capacity, grounds most planes

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Supersonic
1 hour ago, Throttle2 said:

3 bedroom 1055 sft ? Wow thats really quite cramp.

i know becos for 1 yr, i rented a 1100sft 3 bedder condo while rebuilding my house.  Family of 4 , 2 adults 2 children, cramp like hell.   Maybe its the layout.  Oh well

3 bedder for 1055 sqf, about 98 sqm, bigger than 4 room bto flat liao, where got consider cramp? Lol.

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Supersonic
2 hours ago, Wt_know said:

in 2013 ah khaw said EC breaching $1M is something wrong ... bla bla bla

but now expensive EC is creeping back and want to breach $2M liao ... huat ah!

Words from them can believe meh? What they said can believe, pig also can fly.

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Supercharged
2 hours ago, CremornePt said:

United grounded 50% of their fleet & lost USD1.5b in 14 days.

https://www.grunge.com/194678/how-much-money-are-airlines-losing-per-day-right-now/

With SIA grounding such a large fleet, I suspect SIA could be losing between USD50-100m a *day*. Think about that for a second. The airline is fighting for its life.

If it wasn't for Temasek's 55% ownership backing its financials and the airline's absolutely vital strategic importance for us, it'd have been heading direct to bankruptcy...

https://www.businesstimes.com.sg/companies-markets/bigger-salary-cuts-for-sias-management-compulsory-no-pay-leave-to-be-rolled-out

According to an internal message to staff seen by The Business Times, chief executive Goh Choon Phong will now be taking a salary cut of 30 per cent from April 1, up from 15 per cent previously. Executive vice-presidents and senior vice-presidents will take cuts of 25 per cent and 20 per cent respectively. Meanwhile, SIA's board members are now taking a 30 per cent cut in fees in solidarity with senior management.

And from May 1, salary cuts for divisional vice-presidents (DVPs) and VPs will go up to 12 per cent, while an earlier pay cut of five per cent for senior managers and managers is being brought forward by a month to April 1, before increasing to 10 per cent from May 1.

 

Pocket deep deep and fat fat even after cuts :yeah-im-not-drunk:, where got crisis?

 

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Supersonic (edited)

ie $1M become $700K? [sly] 

Quote

Meanwhile, SIA's board members are now taking a 30 per cent cut in fees in solidarity with senior management.

 

Edited by Wt_know

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Supersonic
1 hour ago, 13177 said:

3 bedder for 1055 sqf, about 98 sqm, bigger than 4 room bto flat liao, where got consider cramp? Lol.

You don't need that much space to make love. 😁

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Supersonic

OK! Let’s get back to SIA

if planes are grounded for 2 months presumably until end of May where travel start picking up in Jun

will SIA bankrupt? [sly] 

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Supersonic
8 minutes ago, Wt_know said:

OK! Let’s get back to SIA

if planes are grounded for 2 months presumably until end of May where travel start picking up in Jun

will SIA bankrupt? [sly] 

I dont think SIA will bankrupt, no way they will allow this to happen.

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Twincharged
11 minutes ago, Wt_know said:

OK! Let’s get back to SIA

if planes are grounded for 2 months presumably until end of May where travel start picking up in Jun

will SIA bankrupt? [sly] 

Read they are talking to banks for a loan.  If that fails, still have a big tap on top and if that fails again, will Ah Agong bail out SIA?

US govt is looking at bailing out their airlines via grants, loans and or guarantees. SIA is national carrier and it is SG ambition to become a air hub. So my guess is it won't.

The question is will a cash call / right issue result in massive dilution of minority shareholders? 

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Supersonic
1 hour ago, 13177 said:

3 bedder for 1055 sqf, about 98 sqm, bigger than 4 room bto flat liao, where got consider cramp? Lol.

Well it was cramp for me & family lor

Back to topic

i dont see SQ toh but i see tough times for many people. Especially those who dont realise it as yet.

 

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Supersonic (edited)

wah ... negative free cash flow .... [sweatdrop] 

2020-03-24_140114.jpg

Edited by Wt_know
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Twincharged (edited)
1 hour ago, 13177 said:

3 bedder for 1055 sqf, about 98 sqm, bigger than 4 room bto flat liao, where got consider cramp? Lol.

You didnt read his post properly,  he was rebuilding his HOUSE.  Moving from 3,500sqft to 5,000 sqft to a 1,000sqft, how not to feel cramp?  😄😄😄

But seriously,  there is no way to fit all the furniture from landed into a condo, I am sure he must have rented an warehouse space  to load all his furniture.

Edited by Ct3833
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Hypersonic
15 hours ago, Kangadrool said:

Tamiflew will come to rescue.

Better load up on some Roche stocks

:grin:

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Supersonic
19 minutes ago, Ct3833 said:

You didnt read his post properly,  he was rebuilding his HOUSE.  Moving from 3,500sqft to 5,000 sqft to a 1,000sqft, how not to feel cramp?  😄😄😄

But seriously,  there is no way to fit all the furniture from landed into a condo, I am sure he must have rented an warehouse space  to load all his furniture.

Same same like you move from a 3 or 4 room into a 1 bedder condo, how to fit all your brang brang? Lol.

Anyway, SIA is talking to banks for a loan? Seriously? :o

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Supersonic

Start selling used sq xmm uniform? my fren suggest

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Turbocharged

Best days of working in the airline, people see-you-up, with free air travel, paid medicals, 6-month bonuses, all over long ago. Now those I know that become pilots, especially those still junior down the totem-pole, don't seem so lucky.

SQ xmm still have other income stream 😈 but not the poor pilots.

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Turbocharged
19 hours ago, Wt_know said:

OK! Let’s get back to SIA

if planes are grounded for 2 months presumably until end of May where travel start picking up in Jun

will SIA bankrupt? [sly] 

Definitely the company is in the red and may need fresh funds to be injected. The question will be how? In good times, government tax, CAAS,  etc, make money from SIA. In bad times, all should chip in to ensure this golden duck continue to lay eggs.  

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Supercharged

SIA Trading Halt? Right Issue coming?

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Supersonic (edited)

On 23rd March, I bought 3 lots of SQ shares just to gamble really small money. My broker advised against it so strenuously but something told me to buy. I assured him this would be a swing trade not buy and hold.

Yesterday (25th March), sold off. 

Made a really small amount 2373 bucks after commissions but on an initial stake of 16k plus, not bad. 

Today am stopped trading. My broker messaged me to congratulate me and called me "Houdini". 😂

I tend to play my hunches. Use the Force and all that lol. But definitely an element of luck involved.

Anyway it's almost certain there will be a rights issue. I'm not keen on playing that stock anymore. 

Edited by Turboflat4
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