SilkAir (Singapore Changi) has brought some of its financial operations under the management of its parent company Singapore Airlines (SQ, Singapore Changi), reports the Straits Times. SilkAir's revenue and overseas accounting functions will now be handled by Singapore Airlines, with the remainder staying in its own hands.

SIA spokesman, Nicholas Ionides, deflected questions that the move presaged a potential merger between the two airlines. "At present, we continue to see benefits in retaining separate operations and separate branding for SIA and SilkAir," he said.

The synergising of elements of its operations comes as part of other consolidation moves by Singapore Airlines. In May, it announced that it would be reintegrating its cargo subsidiary Singapore Airlines Cargo (Singapore Changi), and in July completed the merger of its two budget subsidiaries, Tigerair (Singapore Changi) and Scoot (TR, Singapore Changi), under the Scoot brand.

SIA is in the midst of a transformation program as it seeks to turn its financial situation around. The carrier had a surprise Q4 net loss of SGD138 million (USD102 million), prompting CEO Goh Choon Phong to say that he'll do whatever it takes to return the group to sustainable profitability.