SIA reports biggest-ever quarterly loss on coronavirus

The carrier reported a net loss of S$2.3bil (US$1.7bil) for the three months ended Sept. 30 versus a S$94.5mil profit the same period a year ago, before Covid-19 spread around the world, closing borders and all but putting an end to international travel. Revenue plunged 81% to S$783.8mil, the carrier said in an exchange filing.

SINGAPORE: Singapore Airlines Ltd posted its biggest ever quarterly loss as the coronavirus decimated travel demand and fuel hedging and fleet impairment charges weighed on its bottom line.

The carrier reported a net loss of S$2.3bil (US$1.7bil) for the three months ended Sept. 30 versus a S$94.5mil profit the same period a year ago, before Covid-19 spread around the world, closing borders and all but putting an end to international travel.