Singapore Airlines Reports Nearly $150 Million Virus Loss
Singapore Airlines reported an annual loss of almost $150 million Thursday, driven by the collapse in air travel caused by the coronavirus pandemic, and the latest sign of the outbreak’s devastating impact on the aviation sector.
The city-state’s flag carrier lost Sg$732 million in the fourth quarter, mainly due to a reduction in passenger revenue as the virus crisis exploded. Singapore Airlines cut passenger capacity by 96 percent from April to June and grounded most of its fleet as people stopped flying due to the pandemic.
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