Fuel costs, Air India losses push SIA to first loss since pandemic
Bangladesh, July 30 -- The Singapore-based carrier posted a net loss of SGD 76 million (USD 58.79 million) for the three months ended June 30, reversing a profit of SGD 186 million recorded during the same period a year earlier.
The airline's previous quarterly loss came in the fourth quarter of FY2021/22, the three-month period ended March 31, 2022, during the pandemic downturn.
Despite the loss, Singapore Airlines achieved record quarterly revenue of SGD 5.71 billion, up 19.3% year-on-year, supported by robust passenger demand and a 12% rise in passenger yields.
The airline and its budget subsidiary Scoot together carried a record 10.9 million passengers during the quarter, an increase of 6.3%, while cargo revenue climbed 33.5% to S...
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