Singapore Girl’s Charms Fade as Airline Battle Heats Up
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Singapore Airlines Ltd. is missing the party in its own home. Tourist spending in the city jumped by half since 2008, aided by two new casinos and a 23 percent rise in passenger traffic through Changi Airport.
That growth hasn’t been reflected in the carrier’s passenger numbers, which are down by 2.2 million in the period. The 12 percent drop is the largest of the 12 biggest publicly traded full-service airlines in the Asia Pacific, data compiled by Bloomberg show. Persian Gulf rivals are vying for premium passengers and low-cost operators are poaching budget travelers.