SINGAPORE Airlines (SIA) has posted a S$409 million (US$302 million) first-quarter loss, narrower than a year earlier, helped by a strong air cargo market, Reuters reports.
sia posted a record S$1.1 billion loss in the first quarter a year earlier. Revenue in the just-ended quarter came in at S$1.30 billion, up from S$851 million a year earlier.
Cargo revenue grew 32.4 per cent and the company said demand fundamentals for the business remained strong, even though fresh Covid restrictions in parts of the world could cause short-term uncertainty.
The airline forecast passenger capacity to reach 33 per cent of pre-Covid crisis levels in the second quarter, and said it would serve at least 50 per cent of locations it did before by the end of September.
The airline, like Hong Kong's Cathay Pacific, lacks a domestic market and relies on international travel at a time when most borders are closed.
SIA carried 132,600 passengers in the month of June, an improvement on its June 2020 figures but a 96 per cent fall from the same month two years earlier, before Covid hit.
It filled just 16.1 per cent of seats in June, with its flights heavily reliant on cargo for revenue at a time when the freight market is strong.
SeaNews Turkey
sia posted a record S$1.1 billion loss in the first quarter a year earlier. Revenue in the just-ended quarter came in at S$1.30 billion, up from S$851 million a year earlier.
Cargo revenue grew 32.4 per cent and the company said demand fundamentals for the business remained strong, even though fresh Covid restrictions in parts of the world could cause short-term uncertainty.
The airline forecast passenger capacity to reach 33 per cent of pre-Covid crisis levels in the second quarter, and said it would serve at least 50 per cent of locations it did before by the end of September.
The airline, like Hong Kong's Cathay Pacific, lacks a domestic market and relies on international travel at a time when most borders are closed.
SIA carried 132,600 passengers in the month of June, an improvement on its June 2020 figures but a 96 per cent fall from the same month two years earlier, before Covid hit.
It filled just 16.1 per cent of seats in June, with its flights heavily reliant on cargo for revenue at a time when the freight market is strong.
SeaNews Turkey
