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SIA's net loss narrows by 63.6% to $409 million in 1QFY22

Amala Balakrishner
Amala Balakrishner7/29/2021 6:22 PM GMT+08  • 4 min read
SIA's net loss narrows by 63.6% to $409 million in 1QFY22
The losses come as border controls and travel restrictions remained largely in place in the first quarter of the year
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Singapore’s national airline, Singapore Airlines (SIA) has reported net losses of $409 million for 1QFY22 ended June 30. This is a 63.6% or $714 million improvement from the $1.1 billion loss it had posted the year before.

The losses come as border controls and travel restrictions remained largely in place in the first quarter of the year, despite the heightened rate of Covid-19 vaccinations that were being administered in Singapore and other key markets the group operates in.

Still the improved performance follows a 52.2% y-o-y jump in revenue to $1.3 billion due to an increase in both passenger and cargo flights.

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