(TAN): Singapore Airlines (SIA) incurred a net loss of SGD 3.5 billion (USD 2.6 billion) for the first half of the financial year due to the travel restrictions caused by the Covid-19 pandemic.
SIA’s passenger traffic measured in revenue passenger-kilometers fell by 98.9% in the first half due to tighter border controls, travel restrictions and travellers’ reluctance to fly amid the pandemic. The airline has no domestic routes which has made it more vulnerable to the effect of the pandemic.
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The group’s revenue fell SGD 6,691 million — a negative 80.4% YoY — to SGD 1,634 million during this time.
The group had an operating profit of SGD 413 million last year. Compared to that, they recorded an SGD 1,863 million operating loss this year.
