SIA losses narrow as travel picks up

Restrictions lifted: An SIA plane undergoes maintenance at the Changi Airport. With Singapore further loosening curbs in April, quarantine-free entry is available for inoculated travellers from anywhere. — Reuters

SINGAPORE: A welcome revival in travel and cargo demand helped Singapore Airlines Ltd (SIA) narrow losses in the second half of the fiscal year through March, though the high price of oil weighed on the carrier, its annual results showed.

The airline’s net loss in the October-March period was S$125mil (RM397mil), it said in a statement, compared with a loss of S$804mil (RM2.55bil) a year earlier. Sales more than doubled in the six-month period to S$4.79bil (RM15.2bil).