Singapore Airlines

Scoot and Tigerair to Adopt Single Brand
* Full integration under Scoot name to enable more seamless travel experience for guests
* Brand integration and single operating licence expected in second half of 2017

Yes. Tiger name chao already...

Anyone knows if Ritz carlton millenia is freehold or leasehold? Cant seems to find this info anywhere..

Ask the head porter at Ritz Carlton Hotel - he knows everything.

(17-11-2016, 07:53 PM)soros Wrote: Ask the head porter at Ritz Carlton Hotel - he knows everything.

I think should be leasehold, its built on reclaim land(marina bay).

Is SQ the only net net airline stock in the world?

0.87x book
2.86bil in net cash(cant seem to find any listed airliners in a net cash postion like SQ most are highly leveraged)
Avg 696mil net operating cash flow per quarter in the last 4 quarters
Div payout ratio of ard 0.628
Owns 20% of Ritz Carlton Singapore

Known headwind: Three middle eastern airliners competing head on with SIA and eating a big piece of their pie. Also China airliners/Air asia competing with SIA via the budget route.

Warren Buffet recently bought four major american airliners calling them value buys, but I dont think anyone of those can compare with SQ's discount to book and cash on hand.

If anyone here has views do share.

One thing I realised about asset plays, it is good to be priced cheaply on a Price-to-Book basis. However, there has to be event or catalyst for such assets to be unlocked. For example, is there a possibility a company might buy Ritz Carlton away from Singapore Airlines?

Despite its operating cash flow, free cash flow is still rather shaky because of the capex requirements of such industry.

(15-12-2016, 09:37 PM)kelvesy Wrote: One thing I realised about asset plays, it is good to be priced cheaply on a Price-to-Book basis. However, there has to be event or catalyst for such assets to be unlocked. For example, is there a possibility a company might buy Ritz Carlton away from Singapore Airlines?

Despite its operating cash flow, free cash flow is still rather shaky because of the capex requirements of such industry.

Their recent high capex is to buy new planes for scoot right? 

Btw just released:

http://repository.shareinvestor.com/rpt_...pe/si_news

Haven't look at this stock for a while but couple years back the cargo segment which is also part of SIA was doing very badly and big drag on results.

Maybe cargo still doing badly and not recover yet.

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(16-12-2016, 09:46 AM)BlueKelah Wrote: Haven't look at this stock for a while but couple years back the cargo segment which is also part of SIA was doing very badly and big drag on results.

Maybe cargo still doing badly and not recover yet.

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Yes their CARGO arm still loss making, but should be narrowing. SQ should sell off their 20% stake in Ritz Carlton Singapore and buy a stake in Changi Airport, synergize and diversify. I am sure Temasick and garmen will agree to this. Also another thing to note, their fuel cost is progressively lowered every quarter which is a good sign. 

In my view another way for airliners to gain dominance is to acquire or buy out competitors. What they did with Virgin Aus and Tata is a step in the right direction. 

Many things management can do to increase value for shareholders. Can only hope.