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Singapore Airlines

In: Business and Management

Submitted By eddiediwakar
Words 3390
Pages 14
Table of Contents 1. Introduction 4 2. Executive Summary 5 3. Financial Analysis 5 3.1. Profitability 5 3.2. Analysis of Investment Performance 13 3.3. Financial Condition 17 3.4. Dividend Policy 22 4. Conclusion 26 5. References 27

Introduction
The analysis supplied within this report has been undertaken from the perspective of a current shareholder in Singapore Airlines (SIA). The report provides critical assessment of the company's overall performance, assessment that would be relevant and meaningful to shareholders.
Two major airlines have been selected to provide competitor comparison throughout this report. The two competitor airlines - Japan Airlines Ltd and Qantas Airways - have been selected because they are representative of current commercial passenger aviation competition within SIA's predominant operating region (Asia Pacific region).
It should be noted that the 2010 and 2011 reporting periods occurred during a time of major reorganisation for Japan Airlines. In February 2010 Japan Airlines Corporation was de-listed from the Tokyo stock exchange and, after corporate reorganisation proceedings, was re-listed in 2012 as Japan Airlines Co. Ltd. Thus, financial information during this period is unavailable.
We have utilised a number of analysis tools to generate a transparent position of the financial position of SIA and measured this position against competitor airlines operating in the same region and flying similar routes.

Executive Summary
This report provides an analysis of Singapore Airlines from the perspective of a shareholder. The airline’s performance has been evaluated by utilising various tools in the areas of profitability, investment utilisation, financial condition as well as dividends and cash flow.
The analysis encompassed examining trended performance (ratios) of the airlines and comparing the...

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