SInGAPORE_AIR
Posts: 11619
Joined: Mon Nov 13, 2000 4:06 am

Exclusive: SIA To Defer Megatops And Jubilees

Sun Nov 11, 2001 12:03 am

EXCLUSIVE: Singapore Air/Boeing -4: To Adjust Capacity
(MORE) DOW JONES NEWS 11-09-01
03:53 AM

SIA Delivery Deferral "Most Likely" For B777, B747

(MORE) Dow Jones Newswires 09-11-01

0856GMT=DJ EXCLUSIVE: Singapore Air/Boeing -2: Follows Airbus Deal

SINGAPORE (Dow Jones)--Singapore Airlines (Singapore: SIAL.SI - news) Ltd. (P.SAL) is negotiating with Boeing Co. (BA) over deferring the delivery of some of the Boeing aircraft the national carrier has ordered, an industry source told Dow Jones Newswires Friday.

The news came just one day after SIA announced that it has reached an agreement with Airbus Industrie (F.ABI) to defer the delivery of 10 Airbus aircraft.

"It's true that they are talking," the source said.

(MORE) Dow Jones Newswires 09-11-01

0907GMT=DJ EXCLUSIVE: Singapore Air/Boeing -3: 13 B-777 Due In FY03

The source said the proposed delivery postponement will "most likely" affect SIA's orders for B-777 and B-747 jets from the U.S.-based giant aircraft manufacturer.

As of Nov. 1, SIA had a total of 30 B-777s on firm order and nine B-747s on option, the source said.

According to an analyst at a U.S. brokerage, the national carrier has 13 B-777s due for delivery in the financial year ending March 31, 2003.

The move marks yet another step by the crisis-ridden SIA to ease its cash-flow by lightening capital expenditure on the global slump in air travel, and also prevent its fleet from ballooning more than the expected demand.

Thursday, SIA said Airbus has agreed to delay the delivery of 10 long-range A340-500 jets, but didn't cite a reason for the delay. The first of the five confirmed orders will be delivered October 2003, 10 months after the original schedule. The remaining four firm orders will be delivered by March 2004.

SIA has planned capital spending of around S$5.5 billion over the next two years, according to some analysts.

(MORE) Dow Jones Newswires 09-11-01

0935GMT=DJ EXCLUSIVE: Singapore Air/Boeing -4: To Adjust Capacity

The aircraft deferrals will also ease concerns over potentially excessive capacity for SIA, as global air travel continues to reel from the impact of the Sept. 11 terrorist attacks and the subsequent military action in Afghanistan.

The global economic slowdown had already hurt SIA's cargo and passenger traffic, but traffic sank sharply since the attacks.

SIA's overall load factor in September fell sharply to 69.8% from 75.9% a year ago. The load factor is a measure of how efficiently an airline uses passenger and cargo capacity.

Passenger seat factor also fell to 73.1% from 80.7% in September 2000, marking the eighth month of such a decline. Cargo load factor dropped to 67.8% from 72.1% on year in September, registering the 13th month of such a slide.

Like other airlines, SIA has cut salaries, reduced flights and canceled orders as it attempts to emerge from what SIA Chief Executive Cheong Choong Kong described as the most difficult period in the airline's 29-year history.

SIA's net profit plunged 88% on year to S$134.8 million for the first half ended Sept. 30 and is expected to post its first-ever full-year loss for the year ending March 31, 2002.

Shares of SIA closed up 6.7% at S$8.80 Friday.
Anyone can fly, only the best Soar.
 
Mr.BA
Posts: 3310
Joined: Sun Sep 24, 2000 12:26 pm

RE: Exclusive: SIA To Defer Megatops And Jubilees

Sun Nov 11, 2001 8:07 am

SIA has no more B744s on order.

alvin
Boeing747 万岁!
 
Guest

RE: Exclusive: SIA To Defer Megatops And Jubilees

Sun Nov 11, 2001 8:36 am

This has been reported a long time ago.

Also, SIA Cargo has Mega Ark (744F) on order.
 
hkgspotter1
Posts: 5750
Joined: Fri Nov 04, 2005 12:43 pm

RE: Exclusive: SIA To Defer Megatops And Jubilees

Sun Nov 11, 2001 9:46 am

They want a fleet of something like 20 744F's !!
 
Guest

RE: Exclusive: SIA To Defer Megatops And Jubilees

Sun Nov 11, 2001 9:52 am

I hope this delay in deliveries will not last long so that we can see soon A340-500s in SIA colors.
 
A340-500
Posts: 161
Joined: Sun Aug 26, 2001 9:50 am

RE: Exclusive: SIA To Defer Megatops And Jubilees

Sun Nov 11, 2001 10:07 am

it is good it delayed these orders early because some aircraft like 9V-SPQ are kept in the hangar until use is needed. I still wish SIA won't cancel these orders of these wonderful birds.
A340-500 The Future plane of SIA
 
SInGAPORE_AIR
Posts: 11619
Joined: Mon Nov 13, 2000 4:06 am

RE: Exclusive: SIA To Defer Megatops And Jubilees

Sun Nov 11, 2001 5:39 pm

TEDSKI: Yeah. In addition, I want to see my new First Class! hehe. But it's October 2003 that the A345s have been deferred to.
Anyone can fly, only the best Soar.