COVID-19 impact: Singapore Airlines reports half year loss of USD2.6 billion
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A historic first-half net loss of SGD3.5 billion (USD2.6 billion) at the close of the market has been reported by Singapore Airlines (SIA), due to the impact of travel curbs caused by the COVID-19 pandemic. SIA, whose financial year starts in April, saw passenger traffic measured in revenue passenger-kilometres fall by 98.9 per cent in H1 due to tighter border controls, travel restrictions and traveller's hesitancy to fly amid the global pandemic. With no domestic route, its business is more vulnerable to the effect of the coronavirus than its regional peers.
A historic first-half net loss of SGD3.5 billion (USD2.6 billion) at the close of the market has been reported by Singapore Airlines (SIA), due to the impact of travel curbs caused by the COVID-19 pandemic. SIA, whose financial year starts in April, saw passenger traffic measured in revenue passenger-kilometres fall by 98.9 per cent in H1 due to tighter border controls, travel restrictions and traveller's hesitancy to fly amid the global pandemic. With no domestic route, its business is more vulnerable to the effect of the coronavirus than its regional peers.
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