News
SIA reduces losses to US$302.3 million in latest fiscal quarter
July 30th 2021
Singapore Airlines (SIA) has reported a net loss of S$409 million (US$302.3 million) for the three months to June 30, an improvement from a net loss of S$1.1 billion in the same three months in 2020. Revenue rose 52.2%, to S$1.3 billon, SIA informed the Singapore Exchange. Read More » Passenger capacity across the group's Singapore Airlines and Scoot was expected to reach 33% of pre-COVID-19 levels in the quarter to September 30. Additionally, the group is planning to serve about 50% of the destinations it flew pre-COVID-19 by September 30. "The growing pace of mass vaccination exercises across many countries provides hope for a further recovery in international air travel demand," SIA said. "However, the risk of new variants and fresh waves of COVID-19 infections in key markets remains a concern. The recovery trajectory will be dependent on government regulations, vaccination rates and the risk profile of individual regulatory authorities."
