Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Singapore Stock Exchange  >  Singapore Airlines Limited    C6L   SG1V61937297

SINGAPORE AIRLINES LIMITED

(C6L)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Singapore Airlines' : India venture Vistara eyes direct flights to U.S.

11/21/2020 | 02:12am EST
A Vistara Airbus A320 passenger aircraft prepares for takeoff at Chhatrapati Shivaji International airport in Mumbai

NEW DELHI (Reuters) - Vistara, an Indian full-service airline owned by Tata Group and Singapore Airlines, is considering starting direct flights to the United States as the COVID-19 pandemic increases demand for non-stop travel, a senior executive said on Friday.

While the specific timeframe and aircraft requirements are yet to be finalised, Vistara is studying various scenarios for direct flights, Vinod Kannan, chief commercial officer, told Reuters in an interview.

COVID-19 brought air travel to a grinding halt earlier this year as nations imposed travel bans. While travel has resumed to some extent, passenger numbers remain far below previous levels and a full recovery could take years.

Vistara has seen a rise in demand for non-stop flights, as passengers try to avoid stopovers to reduce the risk of getting infected - a trend it expects will continue in the future.

Flag carrier Air India is the only Indian airline currently offering direct flights to the U.S.

"This means there is definitely an opportunity...to fly direct to the U.S., and it is an opportunity we are looking at," Kannan said.

The airline, which started international flights last year, currently operates two Boeing Co widebody planes and has four more on order but Kannan said the specifications and layout were not suited for direct flights to the United States.

Whether Vistara would look at ordering new planes or leasing them is under discussion.

"In today's situation it is much easier to lease a widebody compared to one year ago. Those opportunities and scenarios are being worked on," Kannan said.

Prior to COVID-19, the airline flew to destinations like Bangkok and Singapore and had plans to start flying to Japan and Europe. Its international flights are now limited to destinations like London and Dubai with which India has a bilateral "air bubble" arrangement to operate direct flights.

It is in talks to start flights to Paris and Frankfurt under the same bilateral agreement, Kannan said.

By mid-2023, Vistara expects 20% to 30% of its total seat capacity to be deployed on international routes, up from less than 10% last year.

It expects to expand its fleet to 70 planes - a mix of Airbus' narrow-body planes and Boeing widebodies - from 47 or 48 planes by the end of the current fiscal year.

While Vistara continues to negotiate with vendors on costs and delays taking delivery of some planes, it is starting to see some recovery in domestic business and leisure travel.

"It has not been an easy year and it will affect my break-even point and push it back," Kannan said.

(This story was refiled to clarify timeline of mid-2023 in paragraph 13)

(Reporting by Aditi Shah; editing by Jason Neely, Kirsten Donovan)

By Aditi Shah


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
SINGAPORE AIRLINES LIMITED -1.53% 4.51 End-of-day quote.-50.11%
THE BOEING COMPANY -0.51% 216.5 Delayed Quote.-33.20%
All news about SINGAPORE AIRLINES LIMITED
11/23SINGAPORE AIRLINES : To Offer Wider Range Of Main Course With New Short-Haul Eco..
AQ
11/23CATHAY PACIFIC AIRWAYS : Hong Kong, Singapore bubble delay highlights hurdles to..
RE
11/21SINGAPORE AIRLINES' : India venture Vistara eyes direct flights to U.S.
RE
11/20SINGAPORE AIRLINES : Airbus inaugurates new Singapore Campus
AQ
11/13TODAY'S LOGISTICS REPORT : Resilient Food Supply Chains; Walmart Pops Up; Crude'..
DJ
11/13SINGAPORE AIRLINES : Raises S$850 Million Through Convertible Bond Issue with St..
AQ
11/12SINGAPORE AIRLINES : to Issue Up to S$850 Million of Convertible Bonds
DJ
11/11Singapore-Hong Kong travel bubble sparks surge in bookings, hopes for broader..
RE
11/10SINGAPORE AIRLINES : Hong Kong, Singapore to allow travel to each other without ..
RE
11/08Singapore airlines to operate 16% of pre-pandemic passenger capacity in decem..
RE
More news
Financials
Sales 2021 3 876 M 2 897 M 2 897 M
Net income 2021 -4 304 M -3 216 M -3 216 M
Net Debt 2021 11 438 M 8 548 M 8 548 M
P/E ratio 2021 -2,95x
Yield 2021 0,13%
Capitalization 13 372 M 9 989 M 9 993 M
EV / Sales 2021 6,40x
EV / Sales 2022 2,33x
Nbr of Employees 28 160
Free-Float 99,0%
Chart SINGAPORE AIRLINES LIMITED
Duration : Period :
Singapore Airlines Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends SINGAPORE AIRLINES LIMITED
Short TermMid-TermLong Term
TrendsBullishBullishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 3,91 SGD
Last Close Price 4,51 SGD
Spread / Highest target 13,1%
Spread / Average Target -13,2%
Spread / Lowest Target -31,3%
EPS Revisions
Managers
NameTitle
Choon Phong Goh CEO & Non-Independent Executive Director
Lim Huat Seah Independent Non-Executive Chairman
Swee Wah Mak Executive Vice President-Operations
Kai Ping Tan Executive Vice President-Finance & Strategy
Wei Jun Wang Senior Vice President-Information Technology
Sector and Competitors
1st jan.Capitalization (M$)
SINGAPORE AIRLINES LIMITED-50.11%9 989
DELTA AIR LINES, INC.-29.39%26 225
RYANAIR HOLDINGS PLC5.33%20 646
AIR CHINA LIMITED-18.46%15 569
CHINA SOUTHERN AIRLINES COMPANY LIMITED-7.63%13 362
UNITED CONTINENTAL HOLDINGS, INC.-48.19%13 281