Singapore to allow general travel to Brunei, New Zealand

[Philipkee]

17 minutes ago, inlinesix said:

I haven't see any risk management stress test in insurance company where revenue drops by 99%.

In a doomDay scenario for Singapore, all low land will be flooded.  I wonder who has done any plan for this.

 

Probably got at govt level.  That is why I think PM announce a budget for climate change.

https://www.straitstimes.com/singapore/national-day-rally-2019-100-billion-needed-to-protect-singapore-against-rising-sea-levels

But again, dunno if its paper exercise or really got concrete plan.

[Yewheng]

2 hours ago, Wind30 said:

https://www.onlinecitizenasia.com/2020/08/20/sia-burns-half-of-8-8b-raised-in-2-months-with-more-fuel-hedging-losses-to-come/
 

actually covid is one thing, the ceo needs to be fired for the fuel hedging losses. If u notice, very little of of the money is used to pay Sia employees, most of it is used to pay hedging losses...

our ceos all do stupid things but nothing ever happens to them, from chartered semi, to Sia to nol... sigh

Most be objective.. Coz it happened before lockdown right? So can't totally blame them. But then ceo take very high salary so have huge responsibility. So yeah.. 

[inlinesix]

15 minutes ago, Volvobrick said:

I didn't say solely becos of drop in price. It's both. This is not the first time they lost hundred of millions from fuel hedging. They never learn lesson one. I have also sold off this counter years ago. I think at 11 plus a share.

I am saying SQ mgt sucks, also as in sucking our (reserves) money via TH.

Sorry lo.  Who could predict a doomsday scenerio?

99% drop in volume le.

[inlinesix]

14 minutes ago, Philipkee said:

Probably got at govt level.  That is why I think PM announce a budget for climate change.

https://www.straitstimes.com/singapore/national-day-rally-2019-100-billion-needed-to-protect-singapore-against-rising-sea-levels

But again, dunno if its paper exercise or really got concrete plan.

Despite being an island, we are very late in this respect.

Unlikely there is any plan now or before.

[Yewheng]

54 minutes ago, CremornePt said:

People might remember SIA also suffered heavy fuel hedge losses previously - in 2015:

https://www.todayonline.com/business/singapore-airlines-books-big-fuel-hedging-loss-downbeat-outlook

Singapore Airlines Ltd (SIA) today (May 14) reported a full-year fuel hedging loss of S$549 million as a result of falling oil prices and also highlighted fierce competition and soft demand on its key routes.

Sometimes it pays off, sometimes it doesn't.

This one really need a team of people who has deep knowledge about economy, politics to even what will fed do to predict what will happen in say 2 to 5 yrs if they want to fuel huge as far out as possible. The further the fuel huge duration, the more uncertainty it become due to nowadays things change rapidly. Especially when there is change in USA president, don't know what USA president will do, don't know what China will do, don't know what India will do and etc.. That is beside the natural disaster. If the world is changing quite rapidly due to political issue, then it is a telltale sign to let them know, better don't fuel huge for too far out. If say the world is quite peaceful and can forsee that there will have not much political issue around the world due to maybe say this usa president is not like trump type. Then yeah fuel huge long term may make sense if the economic fundementals are all in place. So fuel huge is not tikam hor.. Need a team of experts. If SIA fuel huge based on tikam.. Then yeah.. SIA ceo should answer for that.. 

Edited August 23, 2020 by Yewheng

[Ody_2004]

1 hour ago, Heartlander said:

Actually if sIA is burning so much money as is just to hold together，why gov not aggressivly negotiate with more friendly and 'safe' countries to offer very cheap airfares to both Singaporeans and foreign citizens to jumpstart the tourism sector. Just for a month or 2, and to do stringent virus testing upon return before flying from the countries so that the results could be ready by the time fly back to Singapore. If keep on waiting is never ending, as never know is the best time.

Do right no one praise... do wrong Govt need alot of explanation to make..

We need inbound tourist and hope that we don export our SG$ to keep our economy. With our numbers (yah we Sinkies know from dorm) tourist scare to come and countries scare we go..

I work in the industry that heavily depends on tourism.. I do hope the border open soon.

[Wind30]

1 hour ago, inlinesix said:

Sorry lo.  Who could predict a doomsday scenerio?

99% drop in volume le.

noboby is blaming the CEO for the drop in revenue. I do think that over hedging responsibility end with him... he is the CEO. And fuel hedges are worth BILLIONS of dollars... 

We are not talking about some hedging to reduce fluctuations. SIA did something out of industry norm, it is like a bet or something... If you did something "clever" or "different" you really should take responsibility if it does not work out.

 

"Singapore Airlines has a hedging policy very different to those of many carriers. They are the only carrier hedging their fuel needs up to 60 months in advance, and the sudden drop in the price of crude oil caused by the COVID-19 pandemic is likely to cause significant losses for the airline in the fuel hedging department until 2025.

At the end of January 2020, Singapore Airlines had hedged 79% of its fuel requirements for February and March at an average price of $76 per barrel, the Singapore Business Times reported. For the full fiscal year ending on March 31, the airline had hedged 73% of its fuel needs at a price corresponding to $58 per barrel.

After the COVID-19 outbreak, the price of crude oil collapsed to reach a record low — close to $10 per barrel — and it is now trading close to $30 per barrel. Singapore Airlines has already hedged 59 percent of its fuel needs for the next four years at prices above $50 per barrel, meaning the airline is vastly overpaying for the time being.

While it is not uncommon for many international carriers to use fuel hedging tools to reduce the risks of price volatility for a 12-month time horizon, very few carriers buy fuel more than two years in advance. Southwest Airlines and Japanese carriers Japan Airlines and All Nippon Airways are among the carriers hedging fuel over a period of three years or longer, an analyst at Morgan Stanley told the Singapore Business Times."

https://airlinegeeks.com/2020/05/17/singapore-airlines-posts-heavy-losses-over-ineffective-fuel-hedging/

 

[Wind30]

2 hours ago, Heartlander said:

Actually if sIA is burning so much money as is just to hold together，why gov not aggressivly negotiate with more friendly and 'safe' countries to offer very cheap airfares to both Singaporeans and foreign citizens to jumpstart the tourism sector. Just for a month or 2, and to do stringent virus testing upon return before flying from the countries so that the results could be ready by the time fly back to Singapore. If keep on waiting is never ending, as never know is the best time.

arent they already doing this with nz and brunei. first step is to unilaterally open our border

[Jamesc]

2 hours ago, inlinesix said:

I haven't see any risk management stress test in insurance company where revenue drops by 99%.

In a doomDay scenario for Singapore, all low land will be flooded.  I wonder who has done any plan for this.

 

Me I look at flooding when I buy a property.

I used this mapping tool.

https://www.freemaptools.com/elevation-finder.htm

 

[Jamesc]

1 hour ago, inlinesix said:

Despite being an island, we are very late in this respect.

Unlikely there is any plan now or before.

Maybe they are proactive

in doing nothing.

[Jamesc]

What if they open the books

and show us they save 100 billion by hedging

and only lost 2 billion over the years?

All the people saying hedging doesn't work will 

look foolish.

But not sure if the figures look so good.

[Wt_know]

hedging > betting ... betting > hedging ... 

Edited August 23, 2020 by Wt_know

[Tohto]

1 hour ago, Ody_2004 said:

Do right no one praise... do wrong Govt need alot of explanation to make..

We need inbound tourist and hope that we don export our SG$ to keep our economy. With our numbers (yah we Sinkies know from dorm) tourist scare to come and countries scare we go..

I work in the industry that heavily depends on tourism.. I do hope the border open soon.

Agreed.

My wife also work in tourism industrial.  Since Feb no income from Tourism. 

Now working part time in ntuc. And she she is seeing SIA steward, hotel staff are also working part time there.

And some of her colleagues are workjng as safe ambassadors,  some taking the risks to work at Expo. No choice, all need income to support family.

All the government budget to support most don't cme to individual. 

Edited August 23, 2020 by Tohto

[Ody_2004]

10 minutes ago, Tohto said:

Agreed.

My wife also work in tourism industrial.  Since Feb no income from Tourism. 

 

ya very bad.. need Singaporean to spend in local attractions not easy.. wait till the $320 million incentive blah..

New Zealand and Brunei is just baby careful steps we take.. honestly these 2 countries don contribute much to the tourist money.. SIA due to cost may not fly as often as before due to poor loading..

[inlinesix]

18 minutes ago, Ody_2004 said:

ya very bad.. need Singaporean to spend in local attractions not easy.. wait till the $320 million incentive blah..

New Zealand and Brunei is just baby careful steps we take.. honestly these 2 countries don contribute much to the tourist money.. SIA due to cost may not fly as often as before due to poor loading..

SQ most frequent flight now could be SIN - KL

[Tohto]

31 minutes ago, Ody_2004 said:

ya very bad.. need Singaporean to spend in local attractions not easy.. wait till the $320 million incentive blah..

New Zealand and Brunei is just baby careful steps we take.. honestly these 2 countries don contribute much to the tourist money.. SIA due to cost may not fly as often as before due to poor loading..

Targeted tourist spending and local spending can be very different. This $320million still have a lot of tourism business will not get the help from here.

[Ody_2004]

47 minutes ago, inlinesix said:

SQ most frequent flight now could be SIN - KL

Guess so.. but current figure maybe just a knee jerk reaction for those that need to come back..

RGL may take awhile I think 

[Ody_2004]

45 minutes ago, Tohto said:

Targeted tourist spending and local spending can be very different. This $320million still have a lot of tourism business will not get the help from here.

Like the 2 casinos loh Which are the main revenue genarator if the IR 😂