Singapore Airlines flags slow recovery in 2021, sees operating Q1 loss – ZAWYA

Singapore Airlines flags slow recovery in 2021, sees operating Q1 loss – ZAWYA

Singapore Airlines flags slow recovery in 2021, sees operating Q1 loss | ZAWYA MENA Edition HomeMarketsEquitiesArticleSingapore Airlines flags slow recovery in 2021, sees operating Q1 loss The company will provide the first-quarter trading update on July 29    Singapore Airlines planes are pictured on the tarmac at Changi Airport March 28, 2018. Singapore Airlines Ltd on Wednesday flagged a hit to its revenue making ability in full-year 2021 on seeing a slower than expected recovery as the ongoing coronavirus crisis saps demand for air travel.The airline, considered a bellwether for premium travel in Asia, also said it would report a material operating loss in the first-quarter of fiscal 2021 on fuel hedge losses stemming from sinking oil prices.The carrier's announcement follows its first ever annual loss and an update in May when it warned of fuel hedging losses and negative operating cashflow for the quarter ending June 30 as most of its fleet remained grounded. The airline, considered a bellwether for premium travel in Asia, also said it would report a material operating loss in the first-quarter of fiscal 2021 on fuel hedge losses stemming from sinking oil prices.Singapore Airlines Ltd on Wednesday flagged a hit to its revenue making ability