Singapore Airlines shares plunge to lowest in 21 years after record quarterly loss – The National

Singapore Airlines shares plunge to lowest in 21 years after record quarterly loss – The National

Out of a fleet of 213 passenger aircraft, the carrier has deployed only 32 jets





























Singapore Airlines planes parked on the tarmac of Changi International Airport. The airline shares have slumped after reporting a record quarterly loss. AFP





















July 30, 2020



July 30, 2020













Singapore Airlines' shares fell to their lowest price in more than 21 years after the carrier posted its biggest quarterly loss ever as the coronavirus wiped out travel demand.



Its shares fell as much as 5.1 per cent to S$3.35, the lowest intraday price since September 1998, and traded at S$3.39 as of 10:48am in Singapore (6.48am in UAE). The stock, which has declined by almost half this year, is the worst performer Thursday on a Bloomberg gauge of carriers in the Asia Pacific region.





Air traffic the world over has plunged because the pandemic led to tight border controls and a reluctance to travel. The International Air Transport Association said Tuesday the airline industry is unlikely to recover fully before 2024. The situation is particularly worse