FY2021/22 Full-Year Financial Results Analyst & Media Briefing

Without any further ado, I will invite the rest of the panelists and introduce them as well. Joining Mr Goh and Kai Ping will be Mr Mak Swee Wah, who is the Executive Vice President Operations, as well as Mr Lee Lik Hsin who is the Executive Vice President Commercial. Let us get started. Can I get the first question please?

Hi, Greg Waldron from FlightGlobal. Great to see you guys in person again. Quick question about the fleet. When do you expect the 737-800s to finally leave the SIA fleet, and what are the implications of the 777X delays for SIA?

Maybe I will just address the second question on the 777X. As you know, we have previously indicated that the 777X is expected to be delivered by end of 2023. Obviously, Boeing has made that announcement that it will be delayed. But the way that we have organised our fleet plan is such that we do have some flexibility in terms of making up for any potential loss in capacity. Hence, you will see that because some of aircraft we own, we can extend the use of it, others even on lease, we can also have options of extending. At the moment, I do not think that our growth plan will be severely hampered.

Thank you for the question. I believe that question is in respect of 737 NGs. We have already recognised earlier an impairment of $120 million in respect of the owned NGs, so that was eight NGs. Those have been marked for sale, and some of them have been sold. We are really talking about the nine remaining leased 737 NGs. Now, these leases will end between September 2024 and January 2026. At the end of the lease, the plan is that the airplanes will be returned to the lessor.

Thank you. Gentleman here on the right.

Good morning. Chuanren from Air Transport World. Earlier this Monday, IATA Chief Willie Walsh said that there is enough growth in Asia-Pacific without China in play. My question is, in terms of revenue, how much does China play in terms of your profits in the near term? Could I ask a bit of clarification from Kai Ping regarding your mention of change in aircraft impairment plans? Thank you.