Singapore Airlines report record full year loss
ANI
24 May 2021, 13:18 GMT+10
By Lee Kah WhyeSingapore, May 24 (ANI): In a year when the airline and travel industry were pulverised by the COVID-19 pandemic, Singapore Airlines (SIA), co-owner of India s Vistara airlines with Tata Sons, reported a record full-year net loss of SGD 4.27 billion (USD 3.21 billion).
In what SIA called its toughest year in history , revenue for the financial year which ended March 2021, fell SGD 12.16 billion (USD 9.14 billion) or 76.1 per cent year-on-year to SGD 3.82 billion. At an operating level, the Group lost SGD 2.51 billion in FY2020/21 versus a gain of SGD 59 million in the prior reporting period. Net loss was SGD 4.27 billion against a loss of SGD 212 million in FY 2019-20.