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This book aims to answer a simple but intriguing question: How has Singapore Airlines (SIA) managed to make healthy profits year in year out, in an industry whose financial performance over the years has been dismal? SIA’s profitability on the other hand has been exceptional, superior in the long term to any competitor in its peer group. Our purpose in writing this book is to answer this question, based on our in-depth research on the airline industry and SIA, and derive some general lessons for managers in other industries.