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5-Jul-2016 11:01 AM

SIA Group chairman outlines primary strategies to address challenges

Singapore Airlines Group (SIA Group) chairman Stephen Lee Ching Yen said (30-Jun-2016) challenges related to structural change in the global airline business are particularly acute in Southeast Asia. Mr Lee noted LCCs in the region hold a seat capacity market share of more than 50% and described Southeast Asia as "by far the most competitive LCC market in the world." Mr Lee also noted aggressive expansion by, "Middle Eastern airlines with deep pockets." Mr Lee said SIA Group remains in a strong position after making "aggressive moves" in recent years and looking beyond its core areas of expertise in response to structural changes. Mr Lee said: "We are clear about the challenges that we face. Our primary strategies to address them are sound. These include: having a portfolio of airlines operating in both full-service and low-cost segments of the market; adding new hubs through joint venture airlines in other parts of the world; developing adjacent businesses to introduce new streams of revenue; and strengthening our premium positioning through continued investment in our products, services and network." [more - original PR]

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