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Student Id # W0076997 MGT8002 - Strategic Management

External Industrial
Environment Analysis for
Singapore airline

Prepared By
Rezaul Huda
MBA Programme
University of Southern Queensland
Australia 2007
Student Id # W0076997 MGT8002 - Strategic Management

Introduction:

Air travel remains a large and growing industry. It facilitates economic growth, world trade,
international investment and tourism and is therefore central to the globalization taking place in
many other industries. Business travel has also grown as companies become increasingly
international in terms of their investments. The commercial aviation industry in Asia has grown
dramatically. The primary objective of my study was to answer one key question: analyse the
external factors for Airline Company, analyse the internal factors of the company I have chosen,
critically discussion about companies stakeholders expectation, critically discuss strategic
choices of the company and justification of those choices.

I have chosen the Singapore airline in Asian context, “Singapore Airlines has evolved into one of
the most respected travel brands around the world. They have one of the world's youngest fleet in
the air, a network spanning five continents, and the Singapore Girl as their symbol of quality
customer care and service”. Though Singapore airline is one of the leading airline companies in
the world but there are hundred over Airline Company doing business in this region. As it’s a
competitive market Singapore airline has to concern about their internal, external and other
factors to keep their positioning. I find some trouble in their external, internal and stakeholder
particulars. I this essay I have been use the PESTEL and five forces framework to identify the
external factors for Singapore airline. To identify the capability of SIA, I analyse the resources
and competence, unique and core competence and strength and weakness of Singapore airline.
To study about the stakeholder I used the stakeholder mapping and ethics or social responsibility
of Singapore airline.

After all those external and internal capability analysis I will find the strategic option for
Singapore airline because Strategic choices are one of the logical elements of the strategy
process and have a central role. The process of choice can only be described as deciding between
different options but this makes the process neater and tidier than it really is.
Student Id # W0076997 MGT8002 - Strategic Management

1: External Environment of Air-Line Industry (Asian Context):

The external environment has an enormous impact on the Airline industry. These have been
unstable times for the Asian airline industry. It has been confronted with a marked decline in
international tourism in the aftermath of the September 2001 terrorist attacks in the United State
and, more recently, traffic loss attributable to the war in Iraq and several terrorist activities. The
airline industry are more competitive in Asian region because there are more than thirty country
operate around thousand of Airline company. Singapore airline is one of them operating in Asian
region as well as in Europe and American region. Figure1 shows the circle of external
environment and the airline industry. Figure 1 shows the external environment of airline industry.

Johnson G, Scholes K. 2005. P64

1.1: External Analysis for Singapore Airline


Singapore Airlines Limited (SIA) is the national airline of Singapore. Singapore Airlines
operates a hub at Singapore Changi Airport and has a presence in the airline markets of Southeast
Asia, East Asia, South Asia, Europe and American region. The present external environment of
airline industry also concern for Singapore airline. I have been analysing the external factors for
Singapore airline using PESTEL framework and to identify strategic challenge of external
Student Id # W0076997 MGT8002 - Strategic Management

environment, I have been using the five forces of framework and opportunity & threat for
Singapore Airline.

1.1 : PESTEL Framework:


In analyzing the macro-environment, it is important to identify the factors that might in turn
affect a number of vital variables that are likely to influence the organization’s supply and
demand levels and its costs (Kotter and Schlesinger, 1991; Johnson and Scholes, 1993). The
“radical and ongoing changes occurring in society create an uncertain environment and have an
impact on the function of the whole organization” (Tsiakkiros, 2002). A number of checklists
have been developed as ways of classification the huge number of possible issues that might
affect on industry. The PEST analysis is one of them that are merely a framework that
categorizes environmental influences as political, economic, social and technological forces.
Sometimes two additional factors, environmental and legal, will be added to make a PESTEL
analysis, but these themes can easily be subsumed in the others. This classification distinguishes
between:

Political factor: This refers to government policy such as the degree of intervention in the
economy. What goods and services does a government want to provide. To what extent does it
believe in finance firms such as Singapore Airlines has withdrawn its bid for a stake in Air India,
dealing a heavy blow to the Indian government's privatization programmed. This is a political
barrier for Singapore airline.

Economic factors: These include interest rates, taxation changes, economic growth,
inflation and exchange rates. The Singapore Airlines offer to buy a 24 percent stake in China
Eastern Airlines for 7.2 billion Hong Kong dollars (US$923.8 million) appeared in trouble
Wednesday after a major shareholder criticized the deal as unfair.

Social factors: Changes in social trends can impact on the demand for a firm's products
and the availability and willingness of individuals to work. In the year 2002 there was a fatal
crash of a Singapore Airlines flight SQ006 at Taipei's Chiang Kai-Shek International Airport.
Authorities blamed “pilot error” for the accident. Singapore Airlines has accepted “full
Student Id # W0076997 MGT8002 - Strategic Management

responsibility” for the crash, saying it was obviously a case of “pilot error”. The airline has
offered $400,000 in compensation to the relatives of each of the dead and announced it will meet
the medical expenses of the injured and discuss compensation with them. But facts have already
begun to emerge that point to a number of other causes, some of which are directly linked to
cost-saving measures by airlines and airport authorities. The death toll has risen to 82 people
with the death of a survivor in hospital. Another 81 passengers were injured. This accident makes
societal effect on Singapore airline.

Technological factors: New technologies create new products and new processes.
Organization must have-to concern about the new upcoming technology. Singapore Airlines is
the first and only airline to install a productivity suite for the benefit of its passengers who can
now continue to work after boarding the plane without having to power up their laptops. In
addition to providing the world's widest first and Business Class seats and a technologically
advanced seat in Economy Class, which makes the competitive advantage for Singapore airline.

Appraisal of PEST framework for Singapore airline:

Factors Singapore Airline

Political factor Singapore Airlines drops Air India proposal.

Economic factors Singapore Airline proposal hits trouble in Hong-Kong.

Social factors Singapore Airlines crash in Taiwan.

Technological factors Sun a micro system powers the first productivity suite in the sky.

Figure 2 shows the PEST framework for Singapore airline:


Student Id # W0076997 MGT8002 - Strategic Management

Sources: John Tribe, 2005 p.125

1.2: Strategic Challenge of External Environment:


The Singapore airlines also face some strategic challenge of external environment. To identify
those challenges I have analysis the five forces framework and the opportunity and threat.

The five Forces of Singapore Airline:


This Porter's 5 forces analysis deals with factors outside of airline industry that influence the
nature of competition within it, the forces inside influence that how Singapore airline compete.
These are: mean and figure 3 shows this five forces and Singapore airline
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Sources: M.E. Porter, 1980, P 233

Supplier Power: Suppliers power is very high in airline industry. Singapore airline also
concern about this factors. For example if the jet fuel price increase, the air line company has no
choose. Recently increase in the price of jet fuel, Singapore Airlines will increase its fuel
surcharge for tickets issued on or after December 4, 2007. The price of jet fuel has increased
piercingly in recent weeks, and is now hovering around US$115 per barrel.

Buyer Power & Substitution: The buying power for individual customer is too high in
airline industry. There are hundreds of Airline Company operate in Asian region, in this fact
individual buyers has so many option to choose which airline he wants to fly.

Competitive Rivalry & New Entry: Singapore airline has to concern about the
competitors because airline industry is so competitive. This has already started with two national
carriers, Air Canada and Garuda of Indonesia, seeking to curb Singapore Airlines' access to their
Student Id # W0076997 MGT8002 - Strategic Management

home markets. Growth of global megacarriers, as U.S. and European airlines merge or form
alliances to cut costs, will also intensify competition for Singapore Airlines.

Opportunity & Threat of Singapore Airline

Singapore Airlines is the strapping company in the East Asian region. They directly serve
destinations in Asia, which includes Hong Kong, Beijing and Tokyo. Present opportunity and
threat of Singapore airline is written blew:
Opportunity
• Growing Asia Pacific market
• Increase in trans-pacific cargo
• Global airline market

Threat
• Rising aviation fuel prices
• Increasing competition from low cost airlines
• Instability in the Middle East
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2. Internal Analysis of Singapore Airline:

To analyse the internal environment I have classified in three categories; strategic capability of
Singapore airline and competitive advantage of Singapore airline.

2.1: Strategic Capability of Singapore Airline

Strategic capability identifies the capacity of a business to deliver future value to his end user.
So, most companies discuss their strategic capabilities to get the competitive advantage. I have
analyse the strategic capability for Singapore airline identifying “resources and competence”
“unique and core competence” and “Strength & Weakness” of Singapore airline.

2.1. A: Resources and Competence of Singapore Airline

Singapore airline is the strongest brand from Asia and it’s long-serving, almost iconic. Singapore
Airlines has consistently been one of the most profitable airlines globally, and has always had the
reputation of a trendsetter and industry challenger. There are several good reasons for this. Most
relates directly to the strong brand management driven primarily by the Singapore Airlines
boardroom and top-management, and the healthy brand equity as the result of a dedicated,
professional brand strategy throughout a diversified, global organization.

2.1. B: Unique and Core Competence of Singapore Airline

Singapore airline is the strongest and iconic brands from Asia. Singapore Airlines has
consistently been one of the most profitable airlines globally. There are several good reasons for
this. Most relates directly to the strong brand management driven primarily by the Singapore
Airlines boardroom and top-management. The Singapore Airlines brand is unique in the sense
that the boardroom takes dedicated leadership of the brand strategy unlike many other Asian
companies. SIA also has the high brand attributes. They have pioneered many in-flight
experiential and entertainment innovations, and strived to be best-in-class. SIA was the first to
introduce hot meals, free alcoholic and non-alcoholic beverages, and hot towels with a unique
and patented scent, personal entertainment systems, and video-on-demand in all cabins. The
company keeps driving innovation as an important part of the brand, and the cabin ambience and
combined experience are key factors of their success.
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2.1. C: Strength & Weakness of Singapore Airline

Singapore Airlines is the strapping company in the East Asian region. They directly serve
destinations in Asia, which includes Hong Kong, Beijing and Tokyo. To identify their capability I
have analysis SIA’s strength and weakness.
Strengths
Diversified geographical spread
Youngest fleet of aircrafts
Strong financial performance
Weaknesses
Weak turnover ratios
Unbalanced business portfolio

2.2: Competitive Advantage of Singapore Airline

Singapore Airlines (SIA) has achieved sustainable competitive advantage. SIA has consistently
outperformed its competitors throughout its three and a half decade history. One key element of
SIA’s competitive success is that it manages to navigate skilfully between poles that most
companies think of as distinct: delivering service excellence in a cost-effective way, at cost levels
so low that they are comparable to those of budget airlines in the U.S.A. and Europe (in 2005-6
for example the cost per available seat kilometre was S$7.9 cents, or US$5.2 cents).
Student Id # W0076997 MGT8002 - Strategic Management

3. 1Stakeholder Expectation of Singapore Airline

Governance chain Of Singapore airline:

The corporate governance is set of processes such as customs, policies, laws and institutions
affecting the way in which a corporation is directed, administered or controlled. The principal
players in corporate governance of Singapore airline are the shareholders, management and the
board of directors. Other stakeholders include employees, suppliers, customers, banks and other
lenders, regulators, the environment and the community at large. Figure 4 shows the governance
chain of Singapore airline.

Johnson G, Scholes K. 2005. P166

3.2: Stake Holder Expectation

A stakeholder is an individual or group that can heavily influence the performance of the
company, this people support to make company successful. They have in turn certain
Student Id # W0076997 MGT8002 - Strategic Management

expectations from the company. To make satisfied Singapore airline also concern. Here is the list
of stakeholders of Singapore airline to whom they have to make satisfied:
• Customers
• Employees
• Owners (stockholders)
• Suppliers
• Regulators (Singapore government)
• Local Communities (where they operate)

This stakeholder has expectation on their company Singapore airline. To analyze stakeholder
expectation I have been use the stakeholder mapping, power and ethics and social responsibility
of Singapore airline.

3.2A: Stakeholder Mapping

Stakeholder mapping is the process of creating such pictures to clarify the position of the
stakeholders of the organization. It also helps to identify the expectation of stakeholders and
power. It also helps to understand the political priorities for the organization. I have been use the
power/interest matrix and Power/dynamism matrix to identify the stakeholder mapping of
Singapore airline.

Power/dynamism Matrix:

Power/dynamism matrix use to identify the political effect that can be effect on company’s
strategic decision. Figure 5 shows the power/dynamism matrix for stakeholder of Singapore
airline. Segment D, since they are in a powerful position to block or support new strategies, but
their ‘stance’ is difficult to predict. For Singapore airline I have identify that the Singapore
government, suppliers and the competitors of SIA belong to this segment. Singapore government
has high influence on strategic decision of Singapore airline, and this influence also not
predictable. In the segment C belong those stakeholders whose has high influence to making
strategic decision but SIA can forecast this influence. The shareholder, customer and the media
people are in this group for Singapore airline. Though segment A and B has very little influence
on decision making but SIA has to concern about those stakeholders. The employee, alliance
Student Id # W0076997 MGT8002 - Strategic Management

partner are belong to segment A. The local community where Singapore airline operate are in the
segment B. This segment has little influence on decision making but SIA can’t predict their
influence.

Source: Mendelow, 1991 p35.

Power/interest matrix:

Figure 6 shows the power/interest matrix. This matrix shows, which stakeholders in relation to
the power they hold and the extent to which they are likely to show interest in the organization’s
strategies. The matrix indicates the type of relationship which the organization will need to
establish with each stakeholder group. The Singapore government and shareholder are in the
segment D. They are the key player; Singapore airline has to consider their opinion to develop
new strategy. The media, customer and the supplier are in the segment C. This group has less
interest in company’s strategy but for some event SIA has to concern their feedback. SIA has to
keep satisfied this segment. The local communities are in the segment B. This stakeholder has
high interest but low power to influence in the company’s strategy, for this reason SIA should
make them informed about all activity. The employees are in the group A. They have low interest
Student Id # W0076997 MGT8002 - Strategic Management

and less power in strategy development process. For some specific event company have to
informed and take their contribution in the strategy development process.

Source: Mendelow, 1991 p35.

3.2B: Ethics and Social Responsibility of Singapore Airline

Stakeholder also concern about companies ethics and social responsibilities. Singapore airline
took many activities to maintain company ethics. For example: Singapore Airlines is the first
airline in the world to fly the new Airbus A380, which is preparing for the first commercial flight
of the new double-decker jumbo jet, from Singapore to Sydney and return. It was taken placed in
the month of October 2007 and in a first-time move, all proceeds from the sale of tickets on the
first flight will be donated to charities. (See the appendix).
Student Id # W0076997 MGT8002 - Strategic Management

4. Strategic Choice of Singapore Airline

Strategic choices are one of the logical elements of the strategy process and have a central role.
The process of choice can only be described as deciding between different options but this makes
the process neater and tidier than it really is. Company should identify their strategic choice
according their demographic and others external factors. Singapore airline also implement their
strategic choice according internal and external factors. I have been describing the strategic
choices of Singapore airline for budget airline into three part business level strategy, corporate
level strategy and direction and method of development. Figure 7 shows the strategic choice of
Singapore airline for budget air.

Johnson G, Scholes K. 2005. P 236

4.1: Business Level Strategy


Price Based Strategy

Price based strategy consider the product price to get the competitive advantage. There are many
low cost airline companies doing business in Asian region. This market is very competitive.
Singapore airline is one of them, providing these services. Air-Asia is one of their competitors,
Student Id # W0076997 MGT8002 - Strategic Management

who are using price based strategy to compete their market. Comparing to Air-Asia, Singapore
airline took high fare for specific rote.

Justification:
Acceptability & Feasibility of price based strategy:

The acceptability and feasibility of price based strategy is high, because some of their
competitors are providing low fare for same rote. For example on the popular Bangkok-
Singapore corridor, Air Asia is selling some round-trip tickets for about $150, compared with
$500 or more on Singapore Airlines. Singapore airline are losing their customer in this rote
because of their price. To get the completive advantage SIA should take action for price based
strategy. (See the appendix)

4.2: Corporate Level Strategy:


The Direction Policy Matrix

The direction policy matrix measures the health of airline industry in the Asian region and the
strength Singapore airline to pursue it. I have been analysing the current position of Singapore
airline in Asian region, comparing previous external, internal and stakeholder analysis. Figure 8
shows the present positioning of Singapore airline, Air Asia and MAS airline in Asian region.
Student Id # W0076997 MGT8002 - Strategic Management

Source: Johnson G, Scholes K. 2005. P: 320

Justification:
Acceptability & Feasibility of Directional policy matrix:

Based on my internal and external analysis I have been identifying their position in this market
as middle business strength and high attractive market. Because I have been find that supplier
bargaining power, threat of substitutes and competitive rivalry is high for Singapore airline. For
example the supplier has high bargaining power; recently jet fuel has increased around US$115
per barrel. The threat of substitute is also very high in this market. Considering this factors I
believe the feasibility and acceptability of directional policy matrix for Singapore airline is high.

4.3: Direction and Method of Development


The TOWS Matrix

TOWS Analysis is a variant of the classic business tool, SWOT Analysis. TOWS and SWOT are
acronyms for different arrangements of the words Strengths, Weaknesses, Opportunities and
Threats. By analysing the external environment (threats and opportunities), and internal
environment (weaknesses and strengths) of Singapore airline I have generate the strategic option.
Figure 9 shows the TOWS Matrix for Singapore airline.
Student Id # W0076997 MGT8002 - Strategic Management

Source: H. Weihrich, Wheelen and Hunger, April 1982.

Using the strength and opportunity Singapore airline could diversify their market. To overcome
SIA’s threat they could go for merger and acquisition with some other airline company like China
eastern. To avoid the weakness Singapore airline can use the cost leadership strategy. Singapore
airline should develop their internal factors to avoid the threat and weakness.

Justification:
Acceptability & Feasibility of Directional policy matrix:

Diversification: At present airline industry in Asian region is very competitive. There are many
airline operate in this region. Air Asia is one of the competitors of Singapore airline. Air Asia
will open twice daily flights from Malaysia to Guangzhou in 2008. Air Asia currently has 86
routes and its no-frills service has obtained wide recognition in the China market and the
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Singapore airline has 88 destinations in 38 countries. Singapore airline should emphasize to


diversify their route to get the competitive advantage.

Marge & Acquisition: Singapore airline has to concern about the competitors. To avoid their
threat, Singapore airline could sue their strength. Marge and Acquisition is one of the best
choices. This has already started with two national carriers, Air Canada and Garuda of Indonesia,
seeking to curb Singapore Airlines' access to their home markets. Growth of global megacarriers,
as U.S. and European airlines merge or form alliances to cut costs, will also intensify
competition for Singapore Airlines.

Internal Development: I have described that to recover the weakness and threat Singapore airline
has to take action for their internal factors. During the capability analysis I find that Singapore
significantly lower turnover ratios during the fiscal year 2007.

During the year, Singapore airlines recorded a lower asset turnover ratio in comparison with
some of its competitors. The company’s asset turnover ratio during 2007 stood at 0.59 times,
significantly lower than some of its prime competitors such as SAS, Lufthansa, and Cathay
Pacific Airways. During the same fiscal year, the asset turnover ratio of SAS stood at 1.15 times,
while the asset turnover ratio of Lufthansa stood at 1.07. The asset turnover ratio of Cathay
Pacific Airways at 0.67 times was also higher than that of Singapore Airlines. The weaker asset
turnover ratio depicts ineffective utilization of assets in generating sales. This could further affect
the group’s top line growth for the future. (See the appendix)
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Conclusion:

Singapore airline is the national airline of Singapore and one of the leading aviation companies
in the world. At present they operate in South East Asia, East Asia, South Asia, Europe and
Australia route. After analysing external factors I find that SIA has some major barrier in
international political and economical sector. As we are familiar that oil price is sensitive issue
worldwide and day by day it’s in receipt of more unstable. For those reason the supplier power
very high. In the internal capability shows high brand attributes and strong brand management as
their core competence. To maintain the current positioning company should concern their
internal, external surroundings.
Student Id # W0076997 MGT8002 - Strategic Management

List of Reference:

1. Johnson G, Scholes K. 2005. “Exploring corporate strategy” London: Prentice Hall


P64, 166, 236,320.
2. B.B.C Business, Sunday, 2 September, 2001, 12:19 GMT 13:19 “Singapore Airlines
drops Air India bid” UK
3. C.N.N Wold Business, Updated 2:36 a.m. EST, Wed January 2, 2008 “Singapore
Airline Bid hits trouble”
4. WSWS.ORG News 7th November 2000 “Authorities scapegoat pilots for Singapore
Airlines crash in Taiwan” By Terry Cook. Published by International Committee of
the Fourth International (ICFI)
5. Scott & Ruecker on May 29, 2007 5:37 PM “Sun Microsystems Powers the First
Productivity Suite in the Sky” Linux News
6. John 2005 “The Economics of Recreation, Leisure and Tourism” Tribe Published]
7. M.E. Porter, 1980 “Competitive Strategy: Techniques for Analyzing Industries and
Competitors” New York: Free Press
8. China Hospitality News December 11, 2007 “Singapore Airlines Increases Fuel
Surcharge”
9. Michael Richardson, SATURDAY, NOVEMBER 23, 1991 “Growing Pains at
Singapore Airlines: Carrier's Expansion Is Running Into Global and Regional
Competition” International Herald Tribune News.
10. BNET Business Research Report, August 18, 2000 “Singapore Airlines Pursues
Business Opportunities with Air India” World Airline News
11. Grimm, Curtis M 2005 “Strategy as Action: Competitive Dynamics and Competitive
Advantage” Cary, NC, USA: Oxford University Press
12. Venture Republic research report 2002-2008 “Singapore Airlines - An Excellent Asian
Brand”
13. Benjamin Schneider and David E. Bowen, 1995, p. 13 “Winning the Service Game”
Boston, MA: Harvard Business School Press
Student Id # W0076997 MGT8002 - Strategic Management

14. Daniel Chan, no. 6 (2000), P:515–42 “Beyond Singapore Girl: Brand and
product/service differentiation strategies in the new millennium” Journal of
Management Development, 19
15. Heracleous, 2005 “Flying High in a Competitive Industry: Cost-Effective Service
Excellence at Singapore Airlines” McGraw. Hill Company.
16. Robert, Michel 1999 “Power of Strategic Thinking: Lock in Markets, Lock out
Competitor” Blacklick, OH, USA: McGraw-Hill Companies.
17. [Corporate Governance International Journal, 2003 "A Board Culture of Corporate
Governance, Vol 6 Issue 3
18. Nicolas Meisel 2004 “Governance Culture and Development” Paris: OECD
Publishing.
19. Richard Lynch April 2003 “Corporate Strategy” 3rd Edition, Financial Times /
Pearson Education
20. Jeffrey K. Pinto, David I. Cleland and Dennis P. Slevin “The Frontiers of Project
Management Research” on-line access [Accessed 2nd January 2008]
21. J. Pfeffer 1994 “Managing with power: Political influence in organization” HBS
press.
22. [Andersen, Erling S 2004 p 48 “Goal Directed Project Management: Effective
Techniques and Strategies” 3rd Edition, London GBR: Kogan Page Limited,
23. [Gardner, J.R., Rachlin, R. and Sweeny, H.W.A. 1986 “ Handbook of Strategic
Planning online access [Accessed 7th January 2008]
24. [Mitchell, R.K, Agle, B.R, Sonnenfeld, J.A. 1999 “Who Matters to CEOs? An
Investigation of Stakeholders Attributes and Salience, Corporate Performance and
CEO Values” online access[Accessed 7th 2008]
25. Leung, Kwok 2004. p 151 “Handbook of Asian Management” Hingham, MA, USA:
Kluwer Academic Publishers

26. Joshua Kurlantzick, December 27, 2007 “More low-cost airlines in Asia mean more
of everything, including crashes” The International Herald Tribune (business)

27. [Mintzberg, Henry, Lampel, B 1998 “Strategy Safari: A Guided Tour through the
Wilds of Strategic Management” The Free Press.
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Appendix:

Note
Company information has been taken from corporate web page (http://www.singaporeair.com)

1. Airline reputation Study:

2. Price list Singapore airline and Air Asia (Singapore to Bangkok)

Mon 14 Jan 2008 - Singapore(SIN) to Bangkok(BKK)


Flight Departs Arrives Passenger Fare Class
FD 3502 1100 (SIN) 1215 (BKK) Adult 63.00 SGD Economy
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TOTAL PRICE
SGD
464.00

Fare for 1 Adult:


SGD
320.00

Taxes & Fees:


SGD
144.00

Total Fare:
SGD
464.00

3. Efficiency ratio:

Deutsche Lufthansa AG LHAG.DE (Frankfurt) Efficiency

Company Industry Sector S&P 500


Revenue/Employee (TTM) 241,276 338,864 203,835 940,479
Net Income/Employee (TTM) 15,766 20,856 13,016 118,126

Receivable Turnover (TTM) 4.50 26.66 8.36 10.32


Inventory Turnover (TTM) 32.82 48.74 27.82 12.14
Asset Turnover (TTM) 1.07 0.83 0.87 0.97

SAS AB SAS.ST (Stockholm) Efficiency


Company Industry Sector S&P 500
Revenue/Employee (TTM) NM 338,864 316,620 940,479
Net Income/Employee (TTM) NM 20,856 28,382 118,126
Student Id # W0076997 MGT8002 - Strategic Management

Receivable Turnover (TTM) NM 26.66 13.33 10.32


Inventory Turnover (TTM) NM 48.74 35.79 12.14
Asset Turnover (TTM) NM 0.83 1.12 0.97

Singapore Airlines Ltd SIAL.SI (Singapore) Efficiency


Company Industry Sector S&P 500
Revenue/Employee (TTM) 511,050 338,864 460,285 940,479
Net Income/Employee (TTM) 77,126 20,856 73,982 118,126

Receivable Turnover (TTM) 8.03 26.66 8.91 10.32


Inventory Turnover (TTM) 14.68 48.74 28.38 12.14
Asset Turnover (TTM) 0.60 0.83 0.92 0.97

Cathay Pacific Airways Ltd 0293.HK (Hong Kong)


Efficiency
Company Industry Sector S&P 500
Revenue/Employee (TTM) 2,733,120 338,864 2,608,121 940,479
Net Income/Employee (TTM) 207,200 20,856 617,752 118,126

Receivable Turnover (TTM) 15.75 26.66 14.21 10.32


Inventory Turnover (TTM) 68.46 48.74 50.53 12.14