Jul 29, 2020
Singapore Airlines Posts Record Quarterly Loss on Virus
(Bloomberg) -- Singapore Airlines Ltd., consistently voted one of the world’s best airlines by Skytrax, posted its largest quarterly loss on record after the coronavirus left it flying a tiny fraction of its usual number of passengers.
Net loss in the three months to June was S$1.12 billion ($815 million), compared with a net income of S$111 million a year earlier, the carrier said Wednesday in a statement. Sales dropped 79% to S$851 million.
The Covid-19 pandemic continues to torment the global aviation industry, which is which is struggling with a plunge in traffic caused by tight border controls and a reluctance to travel. Singapore Airlines has said that passenger traffic could take two to four years to recover to levels seen before the outbreak.
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