SINGAPORE: SIA Group on Friday (Nov 6) reported a first half net loss of S$3.5 billion amid a “sharp drop” in passenger traffic as the COVID-19 pandemic continues.
Passenger numbers fell by 98.9 per cent due to tight global border controls and travel restrictions, it said in a news release.
AdvertisementAdvertisementGroup revenue declined S$6.69 billion year-on-year to S$1.63 billion in the first half of the financial year, down by 80.4 per cent. Passenger flown revenue fell sharply as Singapore Airlines, SilkAir and Scoot were severely impacted by restrictions on international travel.
[h=3]READ: Singapore Airlines launches academy offering service and operations training to external firms[/h][h=3]READ: SIA sees 'overwhelming demand' for training centre tour[/h]SIA Group said the decline in group revenue was partially offset by stronger cargo flown revenue, which was up by S$274 million, as countries sought to restore global supply chains.
AdvertisementAdvertisement“SIA responded to the demand by maximising freighter utilisation and deploying passenger aircraft on cargo missions,” said the group.
OUTLOOK
The group said recovery from the COVID-19 pandemic is “likely to remain patchy” given the new waves of infection around the world and concerns about imported cases into countries.
Despite this, SIA Group said customers are slowly becoming more confident about air travel given the robust health and safety measures that have been put in place by airlines, airports and governments.
Advertisement“Amid the uncertain and highly volatile environment, the Group, with its portfolio of full service and low cost airlines, is ready to swiftly and decisively seize all opportunities and respond to any adverse changes that may arise,” it added.
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