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.
For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
