Fintech PR
Singaporean Travellers Reveal the Airlines with Most Delays and Cancellations in MoneySmart Survey
SINGAPORE, June 29, 2023 /PRNewswire/ –– New research released today by leading personal finance portal MoneySmart has revealed the top airlines for flight delay and cancellation according to Singaporean travellers.
Whilst air travel can be notoriously chaotic, travellers have seen an even greater increase in flight disruptions in recent years. In the past 12 months alone, the number of Singaporeans searching for ‘travel insurance claim’ online has risen by 401%¹.
To understand the issues travellers have experienced with flight disruptions, MoneySmart surveyed over 1,700 Singaporeans who have flown in the past year (May 2022-23) and uncovered the top 12 airlines with the most flight delays and cancellations, according to Sinaporean travellers.
Of those surveyed, Air India topped the list, with almost 4 in 5 (78%) of the airline’s customers reporting a delay, while 71% reported a cancellation.
MoneySmart uncovers the airlines Singaporean travellers say they’ve experienced the most disruptions with and how this affected their travel experiences:
The airlines with the most flight delays, as reported by survey respondents
According to the customer survey, Air India emerged as the top airline with the highest number of delays, as reported by almost 4 in 5 (78%) respondents who had flown with them:
- Air China was second, with 7 in 10 (70%) of respondents reporting a delay with them.
- Cebu Pacific Air closely followed in third place, with 69% of respondents encountering delays while flying with the airline.
- Singapore Airlines, the national carrier, was reported to have caused delays for almost 2 in 5 (38%) of the respondents who flew with them in the past year. However, they ranked ninth among the top 12 airlines in terms of reported delays.
The most common duration of delays reported by survey respondents was 1 to 3 hours, accounting for 40% of respondents. Nearly two-fifths (38%) of travellers reported experiencing delays exceeding 4 hours.
The top 12 airlines with the most delays according to Singaporean travellers:
Airline |
% of passengers who experienced a delay |
Air India |
78 % |
Air China |
70 % |
Cebu Pacific Air |
69 % |
Bangkok Airways |
62 % |
Air Asia |
47 % |
China Airlines |
46 % |
British Airways |
46 % |
All Nippon Airways |
43 % |
Singapore Airlines |
38 % |
Philippine Airlines |
38 % |
Scoot |
37 % |
Japan Airlines |
37 % |
The airlines with the most flight cancellations, as reported by survey respondents
Excluding flight cancellations due to COVID-19 travel restrictions, Air India took the top spot again, with 71% of survey respondents who had flown with the airline reporting experiencing a cancellation.
- Cebu Pacific Air followed, with 65% who had flown with the airline reporting a cancellation with them.
- Air China claimed the third spot, with over two-thirds (64%) of respondents reporting cancelled flights.
- The survey reveals that the most common wait time for a replacement flight was 1 to 3 hours (27% of respondents).
The top 12 airlines with the most cancellations according to Singaporean travellers:
Airline |
% of passengers who experienced a cancellation |
Air India |
71 % |
Cebu Pacific Air |
65 % |
Air China |
64 % |
Bangkok Airways |
62 % |
British Airways |
37 % |
All Nippon Airways |
35 % |
Air Asia |
33 % |
China Airlines |
33 % |
Philippine Airlines |
32 % |
Singapore Airlines |
26 % |
Cathay Pacific |
25 % |
Japan Airlines |
25 % |
Compensation for disruption
When it comes to compensation for disrupted air travel, the survey findings shed light on the following key insights:
Compensation for delayed flights:
- On average, 42% of respondents who had experienced delays reported not receiving direct compensation from the airline.
- Scoot, the low-cost airline owned by the Singapore Airlines group, compensated only around 23% of the surveyed respondents who experienced delays. This places Scoot as the airline least likely to provide compensation for flight delays, leaving 77% of the affected passengers to bear the financial cost.
Compensation for cancelled flights:
- 32% reported not receiving direct compensation from the airline for cancelled flights.
- However, survey responses indicated that Air India – the airline with the highest rate of both delays and cancellations – was least likely to compensate for flight cancellations, with 43% of passengers receiving some.
The percentages of disrupted Singaporean travellers surveyed who received compensation from the top 12 most delayed and cancelled airlines:
Delayed travellers |
Cancelled travellers |
|||
Airline |
NET % compensated |
Airline |
NET % compensated |
|
Air China |
71 % |
Air China |
74 % |
|
Bangkok Airways |
66 % |
Singapore Airlines |
73 % |
|
British Airways |
64 % |
Bangkok Airways |
59 % |
|
Singapore Airlines |
62 % |
Cathay Pacific |
56 % |
|
China Airlines |
57 % |
Philippine Airlines |
56 % |
|
All Nippon Airways |
53 % |
China Airlines |
54 % |
|
Air India |
48 % |
British Airways |
53 % |
|
Japan Airlines |
44 % |
Cebu Pacific Air |
51 % |
|
Air Asia |
33 % |
Air Asia |
50 % |
|
Philippine Airlines |
30 % |
All Nippon Airways |
50 % |
|
Cebu Pacific Air |
27 % |
Japan Airlines |
46 % |
|
Scoot |
23 % |
Air India |
43 % |
According to respondents who experienced disruptions, the result of flight delays and cancellations has appeared to have a longer-term impact on travel behaviours:
- 65% now always pre-arrange travel insurance to safeguard against travel disruptions, emphasising the growing recognition of its importance.
- 62% found their experience to be stressful, substantiating the emotional toll such incidents can have on travellers.
- 58% now frequently worry about the possibility of future disruptions, indicating a lingering concern affecting their travel plans.
- 47% expressed extreme disappointment with their airline’s handling of delays or cancellations, suggesting a call to improve customer service and support during such frustrating circumstances.
- 39% admitted that the handling of their disruption has made them not want to fly with the airline again, demonstrating a lasting impact of poor incident management on brand trust and customer loyalty.
Abel Lee, Singapore General Manager at MoneySmart said, “Flight delays and cancellations have an immense impact on one’s travel plans.
“Planning for the perfect holiday could all come to waste if we fail to account for these potential risks.
“Our survey has uncovered very recent negative experiences by modern travellers, and we recognise the critical role travel insurance plays in mitigating these risks.
“Travel insurance offers a peace of mind, ensuring that unforeseen disruptions are met with comprehensive support and financial protection that one may not necessarily receive from airlines.
“We believe that every traveller should enjoy a worry-free travel experience.”
For more information and to view the full findings and methodology of the survey, please visit: https://www.moneysmart.sg/travel-insurance/flight-cancellations-delays-singapore-ms
If you choose to run this story, please link back to: https://www.moneysmart.sg/travel-insurance/flight-cancellations-delays-singapore-ms
Accompanying infographics may be downloaded here.
Survey Methodology
Research conducted on behalf of MoneySmart by Savanta amongst 1,730 Singaporean adults (aged 18+) who had travelled in the past year. The survey was carried out online between 5 – 15 May 2023.
Amongst all respondents surveyed, 58% said they had experienced a flight delay, and 40% said they had experienced a cancellation.
All data is based on the experiences, perceptions, and reports of the Singaporean travellers from the above survey group.
Appendix
¹ Google Trends data pulled on 30/5/23 from this page.
About MoneySmart Group
MoneySmart Group is one of Southeast Asia’s largest personal finance portals, helping millions of people on their journey to achieve their financial goals.
MoneySmart provides a financial comparison and content platform for consumers to make informed product choices across a range of banking, insurance and investment products. We do the hard work of compiling the information and facts to make it easy for you to compare and choose what’s best for you.
Under our Bubblegum brand, we aim to create desirable insurance products and experiences and to become the winning digital insurance brand of the future.
For more information, please visit www.moneysmart.com.
View original content:https://www.prnewswire.co.uk/news-releases/singaporean-travellers-reveal-the-airlines-with-most-delays-and-cancellations-in-moneysmart-survey-301866219.html
Fintech PR
Visionet strengthens European presence with the strategic acquisition of Rödl Dynamics
CRANBURY, N.J. and BERLIN, Nov. 5, 2024 /PRNewswire/ — Visionet Deutschland GmbH, a subsidiary of Visionet Systems Inc., has announced the acquisition of Rödl Dynamics GmbH. Rödl Dynamics GmbH is an affiliate of Rödl & Partner, one of the largest auditing and consulting firms in Germany. Rödl Dynamics specializes in digital transformation solutions with a focus on Microsoft Dynamics ERP, CRM, and Business Intelligence for medium-sized enterprises. This acquisition strengthens Visionet’s local presence in Germany and bolsters its Microsoft Dynamics offerings in the European market. With the combined expertise of a robust onshore team and Visionet’s global delivery expertise, Visionet is poised to deliver scalable digital solutions across industries, solidifying its position as a leading digital solutions provider in Europe.
“This acquisition marks a significant milestone in Visionet’s global growth strategy, bringing us closer to our goal of $1 billion in revenue. Together, we are well-positioned to leverage our global consulting and delivery expertise to drive digital innovation and support enterprise customers in achieving their strategic goals,” stated Kamran Ozair, CEO of Visionet Systems Inc.
“With Rödl Dynamics, we are even better equipped to deepen our impact in the European region. This acquisition strengthens our Microsoft consulting capabilities globally, allowing us to expand our offerings to a broader customer base and solidify Visionet’s position as a trusted advisor for digital transformation,” added Ali Zubairy, Head of Europe & UK, Visionet Systems Inc.
“We are gaining an incredibly talented team from Rödl Dynamics. I would like to welcome Andreas Palsbröker and Rene Richartz, the Managing Directors of Rödl Dynamics who will play a crucial role in the growth of Visionet Deutschland,” said Adeel Edhi, General Manager, Visionet Deutschland.
With this strategic acquisition, Visionet Deutschland benefits from an expanded base of customers and a skilled Microsoft consulting team. The acquisition also strengthens Visionet’s consulting and data capabilities, particularly in the areas of finance, supply chain, manufacturing and retail.
The combined expertise and expanded pool of certified professionals allows Visionet to offer first-class digital transformation solutions, far beyond ERP, to both national and international clients.
The acquisition is supported and advised by Visionet Ventures, the innovation and incubation arm of Visionet Systems Inc. that partners with visionary entrepreneurs to accelerate growth and create lasting impact.
About Visionet Systems Inc.
Visionet is a leading IT services firm delivering digital experiences, enterprise modernization, Data & AI applications, and managed IT services. We leverage digital, data, and cloud technologies to meet clients’ needs efficiently. Serving diverse sectors, we simplify complexities and foster innovation. With a global presence, Visionet ensures measurable business impact and a unique partnership experience.
Learn more at visionet.com.
About Rödl Dynamics GmbH
Rödl Dynamics GmbH, an affiliate of Rödl & Partner, focuses on the digital transformation of business processes, delivering tailored ERP, CRM, and Business Intelligence solutions. Leveraging the full Microsoft technology stack, Rödl Dynamics integrates seamless digital solutions for medium-sized enterprises, especially in the retail and services sectors.
For more information, visit Microsoft Dynamics 365 erfolgreich einführen | Rödl Dynamics (roedldynamics.de)
For media queries, please contact [email protected].
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View original content:https://www.prnewswire.co.uk/news-releases/visionet-strengthens-european-presence-with-the-strategic-acquisition-of-rodl-dynamics-302296450.html
Fintech PR
SynFutures Introduces the First ‘Perp Launchpad’ with $1M Grant to Support Emerging Token Projects
The new product enables anyone to launch perpetual futures markets for any asset, fostering innovation in the DeFi space amid the rise of memecoins and long-tail assets.
HONG KONG, Nov. 5, 2024 /PRNewswire/ — SynFutures (www.synfutures.com), a leading decentralized derivatives protocol, today announced the launch of its Perp Launchpad, the first launchpad product focused on derivatives markets rather than spot markets. The new product allows any project to launch perpetual futures markets for any native asset. Alongside this launch, SynFutures is unveiling a $1 million Perp Launchpad Grant program to support emerging projects in listing their tokens and enhancing their visibility within the rapidly expanding on-chain markets.
The crypto market has recently witnessed a surge in memecoins and other long-tail assets capturing the attention of retail traders. Designed to complement trending spot markets with open and efficient derivatives markets, SynFutures’ Perp Launchpad enables projects to unlock new token demand and utility, providing their communities with passive LP (liquidity provider) rewards and more ways to trade and hedge risk through leveraged perpetual futures trading.
Perp Launchpad also pioneers the on-chain derivatives space by supporting coin-margined perp markets with single token concentrated liquidity, as well as a vault feature that helps optimize liquidity to generate consistent yields for liquidity providers.
Launching First on Base
The initial launch of Perp Launchpad will take place on Base, allowing projects to launch perp trading pairs for any native asset on the growing L2 network. The launch follows a successful launchpad pilot program with established LST, LRT, and stablecoin projects like Lido, Solv Protocol, and PumpBTC.
SynFutures has been a significant contributor to the Base ecosystem growth. Since the Base expansion of V3, the latest iteration of the SynFutures protocol in July 2024, SynFutures has accounted for more than 50% of the total derivatives trading volume on Base, amounting to over $23 billion in cumulative trading volume and 138,000 on-chain users.
$1 Million Grant Program for Emerging Projects
To further support emerging projects and cultivate a thriving on-chain derivatives ecosystem, SynFutures has allocated $1 million through the Perp Launchpad Grant. Individual projects can receive grants in the form of campaign support, liquidity provision, and trading incentives, as well as co-marketing and promotional support to activate new listings.
“Providing access to derivatives markets for emerging tokens is crucial in today’s dynamic trading environment,” said Rachel Lin, Co-Founder and CEO at SynFutures. “By enabling perpetual futures markets for new and trending tokens, we’re not only meeting the market demand but also supporting the growth and diversification of the DeFi ecosystem. Our Perp Launchpad and Grant Program are designed to empower these projects, offering them the tools and resources they need to bring more utility and depth to their tokens.”
The Perp Launchpad Grant builds upon SynFutures’ successful track record of supporting emerging tokens. Previous initiatives like the DAO Perps Program and Meme Perp Summer have supported various projects, including DEGEN and MEW, both of which have seen significant success since their listings on V3 in July and August 2024, respectively.
Unique Opportunities for Traders
For traders, the Perp Launchpad offers the chance to access a wider range of assets, including trending tokens that may not be available on other platforms across CeFi and DeFi. As memecoins and long-tail assets continue to drive attention, traders can engage in leveraged trading to capitalize on market movements and potential arbitrage opportunities. The platform also offers various incentives such as trading competitions and promotional events, providing traders with additional avenues to enhance their returns while participating in the on-chain economy.
Applications Now Open
Applications for the Perp Launchpad Grant are now open and will be accepted on a rolling basis. Eligible projects are encouraged to submit applications via the application form, check eligibility requirements at http://launchpad.synfutures.com/.
About SynFutures
SynFutures is a decentralized perpetual futures protocol that facilitates open and transparent trading on any assets and listings instantly. The V3 Oyster AMM launched the industry’s first-ever unified AMM and on-chain order book model.
Backers include Tier 1 Web3 institutional investors Pantera Capital, Polychain Capital, Susquehanna International Group (SIG), Dragonfly Capital, Standard Crypto, and Framework Ventures, and the team has extensive experience at global financial institutions, fintech companies and blockchain technology companies such as Alipay, Bitmain, Credit Suisse, Deutsche Bank, Matrixport, and Nomura Securities.
View original content:https://www.prnewswire.co.uk/news-releases/synfutures-introduces-the-first-perp-launchpad-with-1m-grant-to-support-emerging-token-projects-302292827.html
Fintech PR
Taking Stock: Industry Leaders Discuss Private Equity’s Evolution and Future to Mark Dechert’s 40th Anniversary in PE
LONDON, Nov. 5, 2024 /PRNewswire/ — 2024 marks the 40th anniversary of Dechert’s global private equity practice. In a special episode of the podcast Committed Capital, Blackstone’s Christopher James, KKR’s John Park, and AB Private Credit Investors’ Jay Ramakrishnan join Ken Young, co-chair of Dechert’s corporate and securities practice and co-head of the global private equity group, to reflect on the evolution of the PE industry, from its humble beginnings to its current scale and complexity.
Among other topics, they discuss the diversification of investment strategies from pure buyout shops to massive alternative asset managers, the evolution and the role of private credit in the private equity ecosystem, and the increasing ability for retail investors to access private markets strategies.
Listen to the full podcast here.
About Dechert
Dechert is a global law firm that advises asset managers, financial institutions and corporations on issues critical to managing their business and their capital – from high-stakes litigation to complex transactions and regulatory matters. We answer questions that seem unsolvable, develop deal structures that are new to the market and protect clients’ rights in extreme situations. Our nearly 1,000 lawyers across 20 offices globally focus on the financial services, private equity, private credit, real estate, life sciences and technology sectors.
View original content:https://www.prnewswire.co.uk/news-releases/taking-stock-industry-leaders-discuss-private-equitys-evolution-and-future-to-mark-decherts-40th-anniversary-in-pe-302296594.html
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