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SYDNEY: Air New Zealand Ltd plans to draw on a NZ$900mil (US$596.34mil) government loan within days to help it weather the coronavirus pandemic after reporting its first annual loss in almost two decades.
SINGAPORE: Singapore Airlines Ltd. has burned through half of the S$8.8 billion ($6.4 billion) it raised through share sales in just two months even as it cut costs and grounded most of its fleet, highlighting how carriers can keep incurring expenses even when planes are left idle.
SINGAPORE: Singapore Airlines Ltd’s shares fell to their lowest price in more than 21 years after the carrier posted its biggest quarterly loss ever as the coronavirus wiped out travel demand.
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 coronavirus pandemic.
Revenue may slump 87% due to a 96% drop in capacity
SINGAPORE: Temasek Holdings Pte Ltd reported a preliminary one-year total shareholder return of minus 2.3% for the financial year ended March 31, its worst performance since 2016, and warned fresh lockdowns imposed by coronavirus could further hamper global markets.
A more diverse parliament set to be good for firms
SYDNEY: Hong Kong’s Cathay Pacific Airways Ltd said it was evaluating whether to send some of its aircraft to less humid locations for storage as it reviews the size of its fleet in light of the fall in demand due to the pandemic.