Singapore Air posts record B100bn annual loss, to issue convertible bonds
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published : 19 May 2021 at 19:42
1 FILE PHOTO: Cabin crew speak to participants during a tour of the Singapore Airlines Training Centre in Singapore Nov 21, 2020, as part of a series of initiatives to re-engage customers who have not been able to travel due to the coronavirus. (Reuters)
Singapore Airlines Ltd on Wednesday posted its second-consecutive annual loss, which widened to a record S$4.27 billion (100.6 billion baht), and said it would issue S$6.2 billion of convertible bonds to help weather the coronavirus crisis.
The loss for the 12 months ended March 31 was worse than the average S$3.27 billion forecast by eight analysts, according to Refinitiv, and included S$2 billion of impairments largely on the 45 older planes surplus to requirements.
Singapore Airlines Posts Record $3 2 Billion Annual Loss, to Issue Convertible Bonds
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SYDNEY (Feb 4): Singapore Airlines Ltd on Thursday posted a S$142 million (US$106.36 million) net loss in the third quarter as passenger numbers plunged by 97.6% due to the pandemic, though its cargo business held up better given a tight freight market.
The loss compared with the prior year s S$315 million profit in the quarter ended Dec 31. Revenue fell 76.1% to S$1.07 billion.
The bottom line loss was slimmer than its S$331 million operating loss due to a tax credit. Broker UOB Kay Hian had expected it to report a core loss of around S$470 million for the quarter, excluding any impairment charges, while UBS had forecast a net loss of S$330 million.
By Reuters Staff
2 Min Read
(Reuters) - Singapore Airlines Ltd on Thursday posted a S$142 million ($106.36 million) net loss in the third quarter as passenger numbers plunged by 97.6% due to the pandemic, though its cargo business held up better given a tight freight market.
FILE PHOTO: Singapore Airlines planes sit on the tarmac at Changi Airport in Singapore December 8, 2020. REUTERS/Edgar Su/File Photo
The loss compared with the prior year’s S$315 million profit in the quarter ended Dec. 31. Revenue fell 76.1% to S$1.07 billion.
The bottom line loss was slimmer than its S$331 million operating loss due to a tax credit. Broker UOB Kay Hian had expected it to report a core loss of around S$470 million for the quarter, excluding any impairment charges, while UBS had forecast a net loss of S$330 million.
SYDNEY (Reuters) - Singapore Airlines Ltd on Thursday posted a S$142 million (US$106.36 million) net loss in the third quarter as passenger numbers plunged by 97.6% due to the pandemic, though its cargo business held up better given a tight freight market.
The loss compared with the prior year s S$315 million profit in the quarter ended Dec. 31. Revenue fell 76.1% to S$1.07 billion.
The bottom line loss was slimmer than its S$331 million operating loss due to a tax credit.
Broker UOB Kay Hian had expected it to report a core loss of around S$470 million for the quarter, excluding any impairment charges, while UBS had forecast a net loss of S$330 million.
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