Singapore Airlines and Korean Air are both traditional national carriers. Both of them have benefitted from the opportunities in global travel.You have been hired as a consultant to provide a formal report analysing and comparing the financial performance and status of both companies. Your report should consider the profitability, efficiency, liquidity, and gearing of the companies and include a comparative analysis. You should use ratio analysis to perform your assessment of the trend of financial performance over the years 2012, 2013 and 2014. Your report should include both cross sectional, time series analysis of the estimated ratios and other non-financial measures that you believe are appropriate.Your report should include Terms of Reference and an Executive Summary. Conclusions (including any recommendations) should be clearly based on your analysis and any assumptions made should be identified and justified.