Singapore Airlines posts Q1 loss – GulfToday – Gulf Today

SourceGulf Today
SectorTransport
CountryGulf

Singapore Airlines posts Q1 loss 41 minutes ago Singapore Airlines’ flight crew at an airport in Sydney, Australia. File/Agence France-Presse Singapore Airlines warned passenger capacity may remain at less than half of pre-pandemic levels by its March 2021 year-end after slumping to a S$1.12 billion ($817 million) first-quarter net loss due to a sharp decline in demand. The net loss compared with a S$111 million profit a year before. Revenue plunged 79.3% to S$851 million during the quarter, the airline said on Wednesday. Singapore Airlines said it was in talks with aircraft manufacturers to delay deliveries and progress payments to reduce cash outflows at a time when the majority of its fleet of 220 planes remains parked. “We have reached agreement with Airbus on some of these matters and discussions with Boeing are ongoing,”...read more...