SIA
Last:6.76
+0.02
A380 A Great Way to Fly
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721-740 of 805
wow...this is not good
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| Jan 11, 2008 |
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SIA grounds A380 after it rolls off runway
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SINGAPORE Airlines said it had grounded an Airbus A380 superjumbo bound for Sydney after the plane came loose from a tow truck and accidentally rolled onto the grass beside a runway.
Nobody was injured in the incident on Thursday involving the world's biggest airliner, a company spokesman said on Friday, but passengers were taken off so the plane could be repositioned and inspected for any damage.
Arrangements were being made for passengers to continue with their journey aboard a Boeing 747-400 aircraft Friday evening, he said.
The truck, which was being used to push back the plane in preparation for the flight, 'experienced some form of failure' causing it disconnect from the aircraft, the spokesman said.
'As a consequence of the failure on the truck, the aircraft ... came into contact with the grass verge off the airport tarmac. The aircraft was not under its own power at the time,' he said.
'It is too early at this time to know the cause of the incident but Singapore Airlines will investigate this quickly, and is filing reports with the appropriate Singapore authorities,' the spokesman said.
Singapore Airlines received its first A380 in October last year to become the first carrier in the world to operate the hulking, double-decker aircraft, which it is currently using for the Singapore-Sydney route.
Travellers from around the world booked their seats on the maiden flight in October in an online charity auction. One Briton paid 100,000 dollars to be among the first to fly the largest passenger plane ever constructed.
The plane, so large that 72 cars could fit on each of its wings, can carry up to 853 passengers. But Singapore Airlines has opted for a more luxurious set-up with a maximum of 471 seats. -- AFP
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Hard to say if it's a good price to enter or not. If you believe the price will go up after all dust settled, it's a good price to buy in. However, if you think the price may dip further, then you may like to wait for a while more.
I am buying in SIA at this price bcos I believe it's more than the price it's trading now. Looking at the PE below 8, a blue chip with large mkt cap and an international brand, I find it "cheap" even without the Eastern China Airline deal. Besides, the latest development on the news that the deal is not totally over yet.
hmm.. i m tinkin of entry tmr.. since DJ.. in red now.. anyway.. guess is a good px gua..
Would this counter still a good buy tomorrow?
wah $28....how long must I wait...kekeke! Yeah, I am keeping under my pillow.
wait for dividend lor.
well, 16.34 just keep under the pillow, you will be safe.. as some broker called for tp $28 !
Managed to take position @16.34, the lowest price today. I have never been that lucky for quite sometime now to get the bottom price. Hope I am still lucky tomorrow. If tomorrow LaoSai, then Jialat lah, suck my own thumb lah! Anyway, buy to keep one. Cheers.
According to the news, China Eastern still wants to talk to SIA again on the deal. So, it's not done yet. Saga continues
wat a luck u got.. heehee.. cheers.. it actually caught me by surprise too..
wow!!! SIA cheong after failed DEAL...lucky din SHORT !?!?!? hee...
Personally, I felt it was a good thing that SIA did not increase their bid price to secure the deal. The guy that offered HK5 is going to have a hard time in this poor market condition. SIA offer of HK3.8 is a premium price. In a few months' time, SIA is probably going to have her last laught. She can then buy at the buyers' market!
somehow.. de share support pretty well.. though the shareholder of this counter would love the sales to go thru.. as long as the purchase px is not to be adjusted. if SIA really match the px offered.. I tink tis counter will really dive below 16 benchmark..
ooops more downside, wow looks like there is not much support liow. all the way down until 15.5 ?
Aiyah... not the CEO's fault mah. Someone dangle HK$5 in front of minority shareholders so it's a foregone conclusion that SIA bid would falter.
Overall, I'm neutral on the outcome of today's vote on SIA fortune. Yes, it is a setback in that it will delay SIA expansion plan in the Chinese market. On the other hand, SIA has a history of not getting good returns on their many investments in other international airlines and the reason is obvious: SIA do not have majority controlling interest such that they can have necessary management control in the airlines. So the failed outcome of acquiring a minority stake in China Eastern may be a blessing in disguise for SIA.
On the other hand, would the Chinese Government want to see a monopoly in the domestic Chinese airline market by two key Chinese carriers in Beijing and Shanghai. I doubt they want that to happen. Why? Both are bleeding badly from poor managements. How would that monopoly benefit the Chinese consumers? It would be a parallel of the just ended monopoly by SIA and MAS of the carrier routes between Singapore and KL. Moreover, the Chinese Government have yet to open the Chinese market to low-cost budget carriers to operate freely. So further delaying the introduction of international airline management expertise would just delay the inevitables.
There should be little impact on SIA share price since the Market has more or less already factored that the acqusition would not succeed.
Cheers!
Another fail acquistion. Time to change CEO.
Frankly, I am glad that this episode is over.
The market can now focus on the true value of SIA and not be influenced by the on/off deal with the fickle Chinese.
SIA management can return focussing on managing the company.
Anyway, history has shown that SIA is not very good at integrating their acquisitions....aka..Delta (cross investment of each others shares which came to nought), Virgin Atlantic, Air NZ (big disaster and BIG loss in $$$)......both under the watch of the previous CEO.
So, if this deal went thru, it would probably have presented SIA with more problems than benefits....given that the Chinese are more difficult to deal with than the British and Kiwis.
Tomo will probably see SIA shares take a beating.........opportunity presents itself??
| Jan 8, 2008 |
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China Eastern shareholders reject SIA's bid for stake
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SIA's bid to buy a minority stake in China Eastern Airlines was rejected after a rival Chinese carrier offered more money. -- AFP
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BEIJING - SHAREHOLDERS in China's third-largest airline rejected a bid by Singapore Airlines (SIA) to buy a minority stake on Tuesday after a rival Chinese carrier offered more money in an unusual takeover battle involving two state-owned companies.
China Eastern Airlines supported the Singapore carrier's bid, made jointly with its parent, the government investment agency Temasek Holdings Ltd.
A deal would have brought the struggling Chinese airline cash and foreign expertise, but shareholders voted against it at a meeting in China Eastern's home city of Shanghai, the airline announced.
The rejection was a blow to Singapore's efforts to gain a foothold in China's booming air travel market.
It came after Air China, another state-owned Chinese carrier, made a last-minute public offer to top the Singapore price. -- AP
Read also China Eastern says it won't consider Air China tie
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SIA "disappointed" with rejection of China Eastern bid
Singapore Airlines (SIA) said it is disappointed with the decision by shareholders on Tuesday to reject its bid to buy a minority stake after a rival Chinese carrier offered more money in an unusual public takeover battle involving two state-owned companies.
But SIA, in a statement shortly after the shareholders voted against the proposed transaction, said: 'We thank the shareholders who voted in favour of the transaction, and we respect the outcome of today's meeting.
'The transaction represents what all parties believe is, and remains, full and fair value for the equity injection to recapitalise the airline. The transaction has also been approved in accordance with relevant laws and regulations.
'The proposal is for a long-term strategic relationship with a willing partner. With Board and management involvement by Singapore Airlines, the proposal brings international expertise to China Eastern, which will help the airline meet the future challenges it will face in a competitive aviation environment in China.'
SIA said it will continue to support the building of a relationship with China Eastern, noting that the airlines are still mutually willing to develop the relationship. China Eastern Airlines supported the Singapore bid, which would have brought the struggling carrier cash and foreign expertise.
But nearly 78 per cent of shareholders who voted at a meeting in China Eastern's home city of Shanghai on Tuesday rejected the deal.
The rejection was a blow to SIA's efforts to gain a foothold in China's booming air travel market, which is expected to become the world's largest in the next two decades.
certainly it's good news....otherwise $1b would have gone down the drain...
