SIA S$1.12b in the red for Q1; analysts see FY21 loss of S$1.83b
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
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.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Vietnam formalises new state leadership, redefining ‘four pillars’ power balance
‘Largest Singapore commercial S-Reit proxy’: analysts say buy CICT shares after Paragon acquisition
From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?
Why where you park your joint venture matters: Lessons from a US$689 million shareholder dispute
