Chart of the Day: Gulf carriers take a bigger bite of Singapore’s air passenger pie

It comes at SIA’s expense.

This graph from OCBC Investment Research and the Centre for Aviation (CAPA) shows that Singapore Airlines is losing out to foreign carriers in terms of passenger share for Singapore-Europe flights.

For the period of December 2013 to February 2014, SIA had a market share of 43.0% while key competitor Emirates had a market share of just 10.2%.

However, SIA's market share shrank to 37.5% in the period from December 2014 to February 2015.

Emirates' market share grew to 14.2% in the same period. Qatar Airways, another Middle Eastern carrier, almost doubled its market share from 3.8% to 7.3%. 

"We think SIA will continue to face tough competition from the gulf carriers," OCBC said.