Coronavirus Victim: Singapore Airlines Records Its First Ever Annual Loss
May 14, 2020
Singapore Airlines recorded the first annual net loss in its 48-year history as the coronavirus pandemic severely dented air travel demand.
Singapore Airline Group, the parent corporation, posted a net loss of $149 million for the 12 months ended Mar. 31, versus a profit $479 million in the prior fiscal year.
The Group lost $514 million in the January-to-March 2020 quarter alone. Revenues in this quarter plunged by $628 million.