SIA still in the red for FY2022, but narrows loss to S$962m

SINGAPORE Airlines (SIA) clocked its third annual loss, posting a deficit of S$962 million for the financial year 2022 to March, even as it disclosed that its forward sales for the next 3 months are approaching pre-pandemic levels.

In its third quarter to December 2021, SIA recorded its first quarterly earnings since the pandemic started to hit its financials in early 2020. But the airline group failed to sustain profitability in its fourth quarter to March, the financial results released on Wednesday (May 18) showed.

For Q4 FY2022, the flag carrier was in the red by S$210 million — though it was about one-third of the net loss it incurred for the corresponding period in FY2021. Group revenue more than doubled to about S$2.5 billion, compared to S$1.1 billion for Q4 FY2021.