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MarketScreener Homepage  >  Equities  >  SINGAPORE EXCHANGE  >  Singapore Airlines Limited    SIAL   SG1V61937297

SINGAPORE AIRLINES LIMITED

(SIAL)
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Singapore Airlines : To Launch $50 Million Upgrade Of Changi Airport T3 Lounges

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07/05/2019 | 09:04am EST

Singapore Airlines (SIA) will be investing more than SGD50 million in a major revamp of its SilverKris and KrisFlyer Gold Lounges at Changi Airport Terminal 3. Renovations are due to commence in August 2019 and are expected to be completed by mid-2021.

The redevelopment project will see an overall 30% increase in space and total customer capacity for the Terminal 3 lounges. The new lounges will offer more generous open spaces, upgraded facilities and a wide array of F&B selections, all tailored to the needs and preferences of our customers. SIA has engaged renowned hospitality designers Hirsch Bedner Associates to inject a fresh look and feel to each lounge that is modern yet homely, while inspiring a sense of timeless elegance.

For the ultimate bespoke lounge experience, Suites and First Class customers can look forward to a brand new The Private Room and First Class Lounge, with carefully designed luxurious and intimate seating spaces suitable for both work and rest. The First Class Lounge will continue to feature a flagship bar, and The Private Room, a full-service fine dining section within the lounge. Customers can look forward to an enhanced epicurean journey with fresh and seasonally curated dining offerings, on top of the perennial local favourites.

The Business Class Lounge will be expanded and feature four distinct zones that cater to travellers with different needs. Customers with a short transit can have a light snack in a relaxed cafe setting, while those with more time to spend may explore a full selection of Asian and international cuisines in the dining hall, including live stations that will offer signature local delights.

A highlight of the new Business Class Lounge will be a full service bar that doubles up as a self service breakfast station in the mornings. Productivity pods will also be available for customers who need a discreet corner to catch up on work, while a rest area with chaise lounges will be provided for customers to catch some shut-eye before their flight.

The KrisFlyer Gold Lounge will double in capacity and include dedicated working spaces, as well as larger al fresco seating and dining areas. The lounge will also be equipped with restrooms and showers.

'With extensive research and feedback garnered from our customers, we have relooked and re-envisioned our customer journey to develop this new design concept for our lounges at T3. Keeping the needs and wants of our customers in mind, we aim to deliver an experience that exemplifies the luxury and warm hospitality that SIA is known for. The project is a key part of our commitment to constantly elevate the customer experience, on the ground as well as in the air, and we look forward to revealing the exciting new offerings as construction progresses,' said Senior Vice President Customer Services & Operations, Mr Marvin Tan.

The construction process will be carried out over four phases, during which the lounges will be progressively renovated in sections, starting with the Business Class Lounge, followed by the First Class Lounge and The Private Room, and finally the KrisFlyer Gold Lounge. Customers affected by renovation works will be invited to temporary lounges to ensure minimal disruption during this period.

Artist impressions of the new lounges can be found here: https://bit.ly/2xoLRn2. Do note that these are reference pictures which may not be indicative of the final product.

MEDIA CONTACT

Media personnel are welcome to get in touch with our Public Affairs Department at public_affairs@singaporeair.com.sg

(C) 2019 Electronic News Publishing, source ENP Newswire

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Financials (SGD)
Sales 2020 17 038 M
EBIT 2020 1 066 M
Net income 2020 678 M
Debt 2020 7 741 M
Yield 2020 3,58%
P/E ratio 2020 15,6x
P/E ratio 2021 13,7x
EV / Sales2020 1,07x
EV / Sales2021 1,17x
Capitalization 10 488 M
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Number of Analysts 15
Average target price 10,23  SGD
Last Close Price 8,85  SGD
Spread / Highest target 29,9%
Spread / Average Target 15,6%
Spread / Lowest Target 1,36%
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NameTitle
Choon Phong Goh CEO & Non-Independent Executive Director
Lim Huat Seah Independent Non-Executive Chairman
Chin Hwee Ng EVP-Human Resources & Operations
Stephen Barnes Senior Vice President-Finance
Wei Jun Wang Senior Vice President-Information Technology
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