Singapore Airlines Ltd on Wednesday reported a S$1.123 billion ($816.73 million) first-quarter net loss.
SYDNEY: Singapore Airlines Ltd on Wednesday reported a S$1.123 billion ($816.73 million) first-quarter net loss after drastically cutting capacity due to the decline in demand and travel restrictions associated with the Covid-19 coronavirus pandemic.
The net loss compared with a S$111 million profit in the three months ending June 30 the prior year. Revenue plunged 79.3% to S$851 million during the quarter, the airline said in a statement.
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