SIA S$1.12b in the red for Q1; analysts see FY21 loss of S$1.83b

Singapore

SINGAPORE Airlines (SIA) swung into a net loss of S$1.12 billion for its first quarter ended June 30, 2020, compared to a net profit of S$111 million a year ago, due to its weaker operating performance and financial impact of S$127 million from the liquidation of low-cost airline NokScoot.

The latter mostly comprised the non-cash impairment of seven Boeing 777 aircraft which had been leased to NokScoot and the group's share of related costs.