SIA eyes to be a budget carrier amidst tightened competition

It is plotting a course for heavy growth and new revenue streams.

Singapore Airlines have succumbed to the pressures of the tightened competition as it posted a 70% drop in net income last month. According to Bloomberg, the airline has struggled amid the expansion of low-cost carriers in its home region, and moves by a trio of Middle East-based full-service airlines to encroach on its core franchise of premium business travelers.

A chief pillar of the Singapore Airlines' expansion rests on further long-haul expansion, driven by firm orders for 67 new Airbus A350s and 30 of Boeing Co.’s largest 787 variant, the -10. The newest 787 is scheduled to enter commercial service in 2018.

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