Remarks by Mr S Iswaran, Minister for Transport and Minister-in-charge of Trade Relations, at the Opening of Singapore Airlines’ Silverkris Lounge

Mr Peter Seah, Chairman, Singapore Airlines Group
Members of the Board
Mr Goh Choon Phong, Chief Executive Officer, Singapore Airlines Group
Members of the SIA team
Members of the Aviation Community
Ladies and Gentlemen

1.     A very good afternoon to all of us. Let me first begin by saying that I am delighted to join all of you today at the opening of Singapore Airlines’ all-new The Private Room and First Class SilverKris Lounge. SIA has also opened the new Business Class SilverKris Lounge and KrisFlyer Gold Lounge recently. I congratulate the entire SIA team on opening these world-class facilities.

2.     The timing of the opening of these lounges is significant and salient. It occurs just as SIA is emerging – severely tested but ever resilient – from the toughest crisis in its history. This is a reflection of the qualities that have defined SIA’s journey and successes over the years, in particular your ability to stay agile, to innovate and invest in the future. These qualities have also ensured that the SIA brand name remains synonymous with the highest standards of quality and service. In that spirit, the new lounges will cater to passengers who travel to, from and through Changi Airport on SIA and its partner carriers, and offer a range of services for the discerning traveller. These facilities will certainly reinforce SIA’s position as a leading international premium airline. They will also enhance the distinctive Changi experience that travellers have come to know and appreciate, and thereby further strengthen our air hub.

3.     The success of SIA is inextricably interlinked with the success of our Changi air hub. Given our role as a global trading and business centre, our air hub is of strategic importance for Singapore. It supports essential economic linkages and people-to-people flows with the rest of the world. It also catalyses growth opportunities for our economy. For these and many other compelling reasons, from the Government’s perspective, we remain resolutely committed to the strong recovery and sustained growth of our Changi air hub.

4.     We have good reason to be optimistic. Since reopening our borders to all vaccinated travellers in April, passenger traffic has more than doubled to almost 50% of pre-COVID levels in May, compared to just under 20% in mid-March.

5.     SIA has played a key role in this recovery. The Group carried 3.9 million passengers in the last FY, which is up six-fold from the previous year. In April, the passenger load factor grew to about 73%, reflecting the strong pent-up demand for travel. The SIA Group has also progressively been reinstating its network. As of today, the SIA Group serves 95 destinations, which is about 70% of its pre-COVID network. SIA has also taken advantage of emerging opportunities and added new routes. For example, Singapore Airlines started a Singapore-Vancouver flight in end-2021. These are encouraging signs, and an affirmation of the future of air travel.

6.     Once again, I would like to congratulate the Singapore Airlines Group, its Board and management team, and all partners who have been involved on the opening of the lounges. It is a happy occasion and importantly an harbinger of a resilient and thriving SIA, our Changi aviation hub, and an encouraging future for the aviation sector.

7.     Thank you very much.