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SIA and SilkAir to merge financial operations
SIA will begin to handle SilkAir’s revenue and overseas accounting functions.
Singapore Airlines merged its financial operations with its regional arm SilkAir. SilkAir's Revenue Accounting and Overseas Accounting functions will be handled by SIA, whilst its Financial Reporting, Payments and Credit Control functions will remain under its under its control, SIA told Singapore Business Review.
The airlines also said the merger of financial functions is part of its transformation programme to “identify synergies” across the SIA Group.
However, the move is not a parallel to the recent merger of Scoot and Tigerair last July, in which both companies were integrated under the Scoot name.
“As we have said in recent months, the transformation programme is ongoing and will leave no stones unturned in identifying opportunities to strengthen the SIA Group. At present we continue to see benefits in retaining separate operations and separate branding for SIA and SilkAir,” a SIA spokesperson said.
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