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SIA plummets into $1.12 bil net loss in 1Q20/21 on continued aviation woes

Felicia Tan
Felicia Tan7/29/2020 06:08 PM GMT+08  • 3 min read
SIA plummets into $1.12 bil net loss in 1Q20/21 on continued aviation woes
SIA says it entered into the first quarter at a time when market conditions were “deteriorating rapidly” due to the spread of the Covid-19 pandemic.
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Singapore Airlines (SIA) has reported a loss of $1.12 billion in 1Q20/21 ended June 30 from its earnings of $111 million the year before. This was primarily driven by the weaker operating performance, as well as the $127 million loss from the liquidation of NokScoot on June 26.

See: SIA to liquidate associated company of Scoot TigerAir, records one-off charge of $123.6 mil

This marks the second consecutive quarter of losses registered by the airline, following its $732.4 million loss in 4Q19/20.

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