Singapore Airlines
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Introduction    Singapore Airlines (SIA) first existed as a part of Malayan Airways Limited (MAL) in 1947, when a Malayan Airways Airspeed Consul took off from Singapore on the first of three scheduled flights a week to Kuala Lumpur, Ipoh and Penang (The story of Singapore Airlines and the Singapore Girl, 2000). According to the official website of SIA, SIA is officially established in 1972, and developed into one of the most respected travel brands around the world. SIA has over 20 subsidiaries, with main subsidiaries as SIA Cargo, SIA Engineering Company, SilkAir and Tradewinds Tours and Travel. SIA was first to fly the A380, which currently is the world’s largest passenger aircraft, from Singapore to Sydney on 25 October 2007. On their official website, they also claimed, “Singapore Airlines maintains a modern fleet of 105 aircraft. As of 1 October 2014, the average age of their fleet stands at seven years – making it one of the worlds youngest and most fuel efficient.”(Singapore Airlines).Air Canada claim themselves on website as “Canadas largest full-service airline and the largest provider of scheduled passenger services in the Canadian market and the Canada-U.S. transborder market.” (Air Canada). Both of Air Canada and SIA are members of the Star Alliance, which is the worlds largest global airline alliance, headquartered in Germany. Air Canada is also the Codeshare Partner of Singapore Airlines, which is the one of the closest forms of Singapore Airlines cooperation where Singapore Airlines place their flight numbers on partners services (Singapore Airlines). SIA has average of 23,716 employees, and it’s headquarter is located in Airline House, Singapore. Air Canada has average of 24,500 employees with slightly difference from SIA, and it’s headquarter is located in Saint-Laurent, QC, Canada (Air Canada & Singapore Airlines).

Income Statement      In this report, all financial and managerial comparisons are based on the annual report for March 31, 2013/14 of Singapore Airlines and annual reportfor December 31, 2014 of Air Canada.        All foreign currency monetary assets and liabilities are translated into Singapore dollars using exchange rates at year ended. Non- monetary assets and liabilities that are measured at historical cost in a foreign currency are translated using the exchange rates as at the dates of the initial transactions. Non-monetary assets and liabilities measured at fair value are translated at the date when the fair value was determined (p.114). Monetary assets and liabilities denominated in foreign currencies are translated into Canadian dollars at rates of exchange in effect at the date of the consolidated statement of financial position. Non-monetary assets and liabilities are translated at the historical exchange rate or the average exchange rate during the period, as applicable (p.97).Singapore Airlines calculated the basic earnings per share by dividing the profit attributable to owners of the parent by the weighted average number of ordinary shares outstanding during the financial year (p.151). Air Canada calculated the basic earnings per by dividing the net income (loss) for the period attributable to the shareholders of Air Canada by the weighted average number of ordinary shares outstanding during the financial year (p.98). For diluted EPS, both of the two airline companies is calculated by adjusting the weighted average number of ordinary shares outstanding for dilutive potential ordinary shares.Singapore Airlines shows the income statements as Consolidated Profit and loss Account & Consolidated statement of Comprehensive income for the year ended 31 March 2014. Air Canada shows as Consolidated Statement of Operations & Consolidated Statement of Comprehensive Income for the year ended December 31, 2013.The form is similar; they listed Note, amount from current year and last year. The content of the statements classified more detailed with Air Canada. It breaks into operating revenue, operating expense, operating income, non operating income and expense, net income from continuing, net income from discontinuing operations, net income, and net income per share with basic earnings per share, diluted earnings per share from continuing operations, basic and diluted earnings per share from discontinuing operations, and diluted earnings per share. Singapore airlines just classified as revenue, Expenditure, operating profit, and basic earnings per share and diluted earnings per share with no classifying the earnings per share from continuing or discontinuing operations (Singapore Airlines Annual Report p.97 & Air Canada Annual Report p.87).

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Introduction    Singapore Airlines And Air Canada Claim. (July 10, 2021). Retrieved from https://www.freeessays.education/introduction-singapore-airlines-and-air-canada-claim-essay/