Connect with us
Prague Gaming & TECH Summit 2025 (25-26 March)

Fintech PR

Singaporean Travellers Reveal the Airlines with Most Delays and Cancellations in MoneySmart Survey

Published

on

okx-ventures-contributes-to-ethereum-mev-solution-shutter-network

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   

Advertisement

Air India 

78 %

Air China 

70 %

Cebu Pacific Air 

69 %

Bangkok Airways 

62 %

Air Asia 

47 %

Advertisement

China Airlines 

46 %

British Airways 

46 %

All Nippon Airways 

43 %

Singapore Airlines  

38 %

Philippine Airlines 

38 %

Advertisement

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

Advertisement

71 %

Cebu Pacific Air

65 %

Air China

64 %

Bangkok Airways

62 %

British Airways

37 %

All Nippon Airways

Advertisement

35 %

Air Asia

33 %

China Airlines

33 %

Philippine Airlines

32 %

Singapore Airlines

26 %

Cathay Pacific

Advertisement

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   

Advertisement

Airline  

NET % compensated   

Air China  

71 %

Air China  

74 %

Bangkok Airways  

66 %

Singapore Airlines  

73 %

Advertisement

British Airways  

64 %

Bangkok Airways  

59 %

Singapore Airlines  

62 %

Cathay Pacific  

56 %

China Airlines 

57 %

Advertisement

Philippine Airlines 

56 %

All Nippon Airways  

53 %

China Airlines  

54 %

Air India  

48 %

British Airways  

53 %

Advertisement

Japan Airlines 

44 %

Cebu Pacific Air 

51 %

Air Asia  

33 %

Air Asia  

50 %

Philippine Airlines  

30 %

Advertisement

All Nippon Airways  

50 %

Cebu Pacific Air  

27 %

Japan Airlines 

46 %

Scoot  

23 %

Air India  

43 %

Advertisement

 

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

Advertisement

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.

 

Advertisement

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

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Fintech PR

China Telecom Gulf Officially Launches in Saudi Arabia for Business

Published

on

china-telecom-gulf-officially-launches-in-saudi-arabia-for-business

HONG KONG, Nov. 23, 2024 /PRNewswire/ — On November 21, China Telecom Gulf was officially launched in Riyadh. This milestone marks a significant step in China Telecom’s efforts to provide deep services under the “Belt and Road Initiative” and to promote the building of a “China-Arab Community with a Shared Future.” It signifies another solid advancement on China Telecom’s path toward internationalization. Mr. Liu Guiqing, Executive Director and EVP of China Telecom Corporation, delivered an opening speech, along with Mr. Fawaz, Representative of Contact Office of Chinese Companies in the KSA, Deputy General Manager of Industrial and Commercial Bank of China Riyadh Branch. Over 100 guests and leaders from the Economic and Commercial Office of Embassy of the PRC of the KSA, Saudi Telecom Company (STC), Bank of China, Huawei, and others attended to witness this momentous occasion.

In his address, Mr. Liu Guiqing emphasized China Telecom’s commitment to openness, cooperation, and mutual benefit. He expressed the company’s willingness to share its experiences in cloud-network integration, cloud transformation, intelligent operations, and technological innovation. China Telecom aims to work closely with various levels of Saudi governments, enterprises, and partners to actively participate in the development of local digital infrastructure, drive the rapid advancement of next-generation information technologies, and establish a robust bridge for cooperation between China and Saudi Arabia in the field of information technology. Leveraging its extensive resources and global operational capabilities, China Telecom plans to bring its strengths in 5G, cloud computing, artificial intelligence, and other fields to provide innovative, high-quality communication products and services to Saudi enterprises, institutions, and consumers.

Mr. Fawaz extended his warm congratulations on the opening of China Telecom Gulf. He highlighted that as a leading global provider of communication services, China Telecom possesses abundant cloud-network resources and mature international service capabilities. The establishment of China Telecom Gulf is a significant step toward supporting the digital transformation of businesses in the region. He expressed confidence that through joint efforts, the company will seize opportunities in the digital era and contribute to Saudi Arabia’s socio-economic development and practical cooperation between China and Saudi Arabia in various fields.

China Telecom showcased its global resources, business capabilities, and its investments and partnerships in the Middle East and Africa. Key services introduced included eSurfing Cloud, computing power solutions, quantum technology, and customized 5G networks. Currently, China Telecom operates branches in 42 countries and regions worldwide, owns 53 international submarine cables, and manages 27 self-operated Internet Data Centers (IDCs). Its cloud-network integrated infrastructure and customer-centric digital service systems provide coverage across the globe.

During the event, China Telecom Gulf signed strategic cooperation agreements with Saudi Telecom Company (STC), Huawei Saudi Arabia, and Baud Telecom Company. The parties committed to deep collaboration, leveraging their respective strengths to provide optimized and convenient digital experiences to Saudi customers.

The establishment of China Telecom’s presence in Saudi Arabia marks a major milestone in the company’s entry into the Middle Eastern communications market, representing a key development in its global strategy. Moving forward, China Telecom Gulf will leverage China Telecom’s robust digital infrastructure and resource integration capabilities. We will collaborate closely with local Saudi enterprises, Chinese businesses expanding internationally, and global companies to strengthen cooperation and enhance exchanges. The company aims to contribute to the growth of Sino-Saudi and Middle Eastern industrial cooperation, continuously offering more smart solutions for the development of the Middle East’s digital economy, while striving to become a world-class provider of digital and intelligent technology services.

Photo – https://mma.prnewswire.com/media/2566044/image_5024765_40051959.jpg

Cision View original content:https://www.prnewswire.co.uk/news-releases/china-telecom-gulf-officially-launches-in-saudi-arabia-for-business-302314765.html

Continue Reading

Fintech PR

Redefining Financial Frontiers: Nucleus Software Celebrates 30 Years with Synapse 2024 in Singapore

Published

on

redefining-financial-frontiers:-nucleus-software-celebrates-30-years-with-synapse-2024-in-singapore

SINGAPORE, Nov. 23, 2024 /PRNewswire/ — The thriving IndiaSingapore partnership in banking and technology reached a new milestone as Nucleus Software celebrated 30 years of transformative innovation at Synapse 2024, held in Singapore. The event underscored the company’s role in redefining financial services across Southeast Asia (SEA) and the globe, bringing together leaders in finance and technology to explore a shared vision for the future of banking.

Synapse 2024 celebrated 30 years of Nucleus Software’s leadership in driving transformative change across Singapore and Southeast Asia’s financial ecosystem. The event also shone a spotlight on the Global Finance & Technology Network (GFTN), an initiative supported by the Monetary Authority of Singapore (MAS) to champion responsible technology adoption. The event highlighted the deepening synergies between India and Singapore, driven by their shared commitment to innovation, cross-border collaboration, and financial inclusion. As the financial services sector undergoes rapid evolution with advancements in artificial intelligence, blockchain, and digital banking, these partnerships are setting the stage for a more connected, resilient, and inclusive global ecosystem.

Vishnu R. Dusad, Co-founder and Managing Director of Nucleus Software, reflected on the milestone: “For over 30 years, we’ve had the privilege of aligning our journey with Singapore’s ascent as a global financial powerhouse. Back in 1994, when we chose to go East instead of West, it was a bold and emotional decision—guided by our belief in Singapore as a hub for innovation and collaboration. We saw then what remains true today: Singapore is at the heart of the global financial landscape, a place where new ideas take root, and partnerships thrive.”

The event brought together a distinguished array of participants, highlighting the transformative potential of IndiaSingapore collaboration. Mr. Piyush Gupta, CEO of DBS Group and the Guest of Honor, set the tone for the event with his opening remarks, emphasizing the transformative role of big tech in reimagining scalable, customer-centric financial services in the digital age.

Following his address, key speakers enriched the discussions with their insights. Mr. Sopnendu Mohanty, Chief Fintech Officer at the Monetary Authority of Singapore and Group CEO-Designate of The Global Finance & Technology Network (GFTN), underlined the importance of fostering responsible technology adoption and building inclusive financial ecosystems. Mr. Vinod Rai, globally respected public policy expert, Distinguished Visiting Research Fellow at the National University of Singapore, and former Comptroller and Auditor General of India, shared his perspectives on governance and policy frameworks in financial systems. Mr. S.M. Acharya, Chairman of Nucleus Software and former Defence Secretary of India, offered a visionary outlook on leveraging technology to modernize and secure banking frameworks. Finally, Mr. Pieter Franken, Co-founder and Director of GFTN (Japan), a global FinTech pioneer and deep tech innovator, discussed the future of decentralized finance and its implications for the financial sector.

The event showcased the transformative role of technology in global financial systems, emphasizing innovations that set benchmarks for scalability and inclusivity. Panelists discussed the importance of localized solutions, the challenges of cross-border integration, and leveraging dual business models to optimize capital and foster public participation. The dialogue highlighted the need for common standards, unified frameworks like APIs, and collaborative efforts to accelerate financial inclusion and drive global connectivity in the digital age.

For 30 years, Nucleus Software has consistently introduced advanced lending and banking solutions that support financial institutions’ evolving needs in Singapore and South East Asia. Driven by lean development methodologies like Acceptance Test-Driven Development (ATDD) and Continuous Integration/Continuous Delivery (CICD), Nucleus Software continues to push boundaries in efficient, flexible, and secure financial technology.

Advertisement

Photo: https://mma.prnewswire.com/media/2565374/Synapse_2024.jpg
Logo: https://mma.prnewswire.com/media/2565373/Nucleus_Software_Logo.jpg

Cision View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/redefining-financial-frontiers-nucleus-software-celebrates-30-years-with-synapse-2024-in-singapore-302314485.html

Continue Reading

Fintech PR

ROYAL CANADIAN MINT REPORTS PROFITS AND PERFORMANCE FOR Q3 2024

Published

on

royal-canadian-mint-reports-profits-and-performance-for-q3-2024

OTTAWA, ON, Nov. 22, 2024 /PRNewswire/ — The Royal Canadian Mint (the “Mint”) announces its financial results for the third quarter of 2024 that provide insight into its activities, the markets influencing its businesses and its expectations for the next 12 months.

“As the markets continue to change, the Mint is proving its ability to seize on new opportunities thanks to its diversified structure and flexible business strategy” said Marie Lemay, President and CEO of the Royal Canadian Mint. 

The financial results should be read in conjunction with the Mint’s annual report available at www.mint.ca . All monetary amounts are expressed in Canadian dollars, unless otherwise indicated.

Financial and Operational Highlights

  • The financial results for the third quarter of 2024 were ahead of target and higher than 2023 levels. Higher gold market pricing and foreign circulation volumes combined with lower fixed costs were the main drivers for the quarter over quarter increase.  These increases were partially offset by lower than expected bullion volumes from the continued soft demand in the global bullion market. The Mint expects to meet its financial goals for 2024, as set out in its 2024-2028 Corporate Plan, the Mint’s Leadership team continues to actively monitor its status.
  • Consolidated revenue decreased to $252.7 million in 2024 (2023 – $360.6 million). 
    Revenue from the Precious Metals business decreased to $217.6 million in 2024
    (2023 – $328.4 million):
    • Gold bullion volumes decreased 38% quarter over quarter to 106.1 thousand ounces (2023 – 170.1 thousand ounces) while silver bullion volumes decreased 20% to 2.7 million ounces (2023 – 3.4 million ounces).
    • Gold and silver market prices increased quarter over quarter by 27% and 23%, respectively.
    • Sales of numismatic products decreased 12% quarter over quarter mainly due to the high demand in 2023 for the Queen Elizabeth II’s Reign products.
  • Revenue from the Circulation business increased to $35.1 million in 2024 
    (2023 – $32.2 million):
    • Revenue from the Foreign Circulation business increased 77% quarter over quarter, a reflection of higher volumes produced and shipped in 2024 as compared to 2023.
    • Revenue from Canadian coin circulation products and services decreased 12% quarter over quarter as fewer coins were required to replenish inventories, combined with lower program fees in accordance with the memorandum of understanding with the Department of Finance.
  • Overall, operating expenses decreased 27% quarter over quarter to $28.3 million (2023 – $36.0 million) mainly due to planned reductions in consulting and workforce expenses.

Consolidated results and financial performance 
(in millions) 

13 weeks ended

39 weeks ended

      Change

         Change

September
28, 2024

September
30, 2023

Advertisement

$

%

September
28, 2024

September

 30, 2023

$

%

Revenue

$

252.7

Advertisement

$ 360.6

(107.9)

(30)

$    861.2

$ 1,841.8

(980.6)

(53)

Profit (loss) for the

     period

$

Advertisement

 

5.7

 

$   (5.8)

 

11.5

 

 

(198)

Advertisement

 

$      24.1

 

$      15.0

 

9.1

 

61

Profit (loss) before
     income tax and
     other items 1

$

Advertisement

1.4

$   (8.7)

10.1

 

(116)

$      12.3

$      23.4

(11.1)

(47)

Advertisement

Profit (loss) before
     income tax and
     other items margin2

0.6 %

(2.4) %

1.4 %

1.3 %

(1) Profit (loss) before income tax and other items is a non-GAAP financial measure. A reconciliation from profit for the period to profit before income tax and other items is included on page 13 of the Mint’s 2024 Third Quarter Report.

(2) Profit (loss) before income tax and other items margin is a non-GAAP financial measure and its calculation is based on profit before income tax and other items.

 

As at

             September 28, 2024

Advertisement

December 31, 2023

$ Change

% Change

Cash

$

58.4

$

59.8

(1.4)

(2)

Advertisement

Inventories

$

71.5

$

68.8

2.7

4

Capital assets

$

174.2

Advertisement

$

173.0

1.2

1

Total assets

$

376.8

$

380.4

(3.6)

Advertisement

(1)

Working capital

$

99.2

$

97.8

1.4

1

As part of its enterprise risk management program, the Mint continues to actively monitor its global supply chain and logistics networks in support of its continued operations. Despite its best efforts, the Mint expects changes in the macro-economic environment and other external events around the globe to continue to impact its performance in 2024. The Mint continues to mitigate potential risks as they arise through its enterprise risk management process.

To read more of the Mint’s Third Quarter Report for 2024, please visit www.mint.ca.

Advertisement

About the Royal Canadian Mint
The Royal Canadian Mint is the Crown corporation responsible for the minting and distribution of Canada’s circulation coins. The Mint is one of the largest and most versatile mints in the world, producing award-winning collector coins, market-leading bullion products, as well as Canada’s prestigious military and civilian honours.  As an established London and COMEX Good Delivery refiner, the Mint also offers a full spectrum of best-in-class gold and silver refining services.  As an organization that strives to take better care of the environment, to cultivate safe and inclusive workplaces and to make a positive impact on the communities where it operates, the Mint integrates environmental, social and governance practices in every aspect of its operations. 

For more information on the Mint, its products and services, visit www.mint.ca. Follow the Mint on LinkedInFacebook and Instagram

FORWARD LOOKING STATEMENTS AND NON-GAAP FINANCIAL MEASURES

This Earnings Release contains non-GAAP financial measures that are clearly denoted where presented. Non-GAAP financial measures are not standardized under International Financial Reporting Standards (IFRS) and might not be comparable to similar financial measures disclosed by other corporations reporting under IFRS.

This Earnings Release contains forward-looking statements that reflect management’s expectations regarding the Mint’s objectives, plans, strategies, future growth, results of operations, performance, and business prospects and opportunities.  Forward-looking statements are typically identified by words or phrases such as “plans”, “anticipates”, “expects”, “believes”, “estimates”, “intends”, and other similar expressions. These forward-looking statements are not facts, but only estimates regarding expected growth, results of operations, performance, business prospects and opportunities (assumptions). While management considers these assumptions to be reasonable based on available information, they may prove to be incorrect. These estimates of future results are subject to a number of risks, uncertainties and other factors that could cause actual results to differ materially from what the Mint expects. These risks, uncertainties and other factors include, but are not limited to, those risks and uncertainties set forth in the Risks to Performance section of the Management Discussion and Analysis in the Mint’s 2023 annual report, as well as in Note 9 – Financial Instruments and Financial Risk Management to the Mint’s Audited Consolidated Financial Statements for the year ended December 31, 2023. The forward-looking statements included in this Earnings Release are made only as of November 20, 2024 and the Mint does not undertake to publicly update these statements to reflect new information, future events or changes in circumstances or for any other reason after this date.

For more information, please contact: Alex Reeves, Senior Manager, Public Affairs, Tel: (613) 884-6370, [email protected] 

 

View original content:https://www.prnewswire.co.uk/news-releases/royal-canadian-mint-reports-profits-and-performance-for-q3-2024-302314428.html

Continue Reading

Trending