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SIA Group records second consecutive annual loss after 'toughest year in its history'
20-05-2021, 12:04 PM
Příspěvek: #1
SIA Group records second consecutive annual loss after 'toughest year in its history'
SIA Group records second consecutive annual loss after 'toughest year in its history'

[Obrázky: a-singapore-airlines-plane.jpg]

Singapore Airlines (SIA) Group on ทดลอง เล่น สล็อต posted its second consecutive annual loss after
what it called the "toughest year in its history", as passenger traffic plunged during the COVID-19
outbreak.

Net loss widened to a record S$4.3 billion for the year ended March, after being hit hard by global
travel restrictions brought about by the pandemic.

The loss was far bigger than the S$212 million recorded in the prior financial year, its first ever dip
in the red, when only one quarter had been affected by the pandemic.

Group revenue fell 76.1 per cent year-on-year to S$3.82 billion due to the “plunge in passenger
flown revenue across Singapore Airlines, SilkAir and Scoot”, the company said in a news release.

SIA Group said that it would issue convertible bonds to raise gross proceeds of about S$6.2 billion
to provide the company with more options to raise further debt financing if necessary.

The move will also strengthen its financial foundation to navigate the COVID-19 pandemic and
enable it to “make the necessary investments to secure its industry-leading position”, it added.

The board is not proposing a final dividend “in view of the significant losses incurred and the need
to conserve cash”, SIA said.
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