SIA's recovery flight may hit some pockets of turbulence
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FLAG carrier Singapore Airlines (SIA) is taxiing on the runway of recovery, but there might be some speed bumps before the take-off.
The carrier reported a loss of S$427.6 million for the quarter to September, a significant improvement from the S$2.3 billion of red ink a year ago. Also, it's near breakeven after months of operating cash burn. This came as the carrier capitalised on the Vaccinated Travel Lane (VTL) tailwind brought on by Singapore's re-opening of its borders through the quarantine-free scheme - starting with Brunei and Germany in September.
SIA noted that passenger revenue increased in tandem with higher passenger traffic for the quarter, outstripping the rise in capacity. And it continued to see higher freight turnover as loads and yields were kept elevated by intensifying supply chain disruptions.
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