SIA cargo profits narrow core net loss: CGS CIMB

It narrowed net loss by 44% year-on-year in the second half of 2022.

Singapore Airlines (SIA) narrowed its core net loss by 44% to $268m in the second half (H2) of 2022 year-on-year on the back of stronger cargo profits and a lower share of associate losses, capital market firm CGS CIMB said.

Within H2 2022, SIA enjoyed a small core net profit of $28m in the third quarter of 2022 but it reversed into a core net loss of $296m in the fourth quarter of 2022.

The third-quarter core net profit was achieved due to extremely strong cargo profits which benefited from the seasonal December peak but cargo profits weakened quarter-on-quarter into the fourth quarter amidst the Chinese New Year holiday in February and the strict lockdowns in China from March.

Whilst demand for air travel from April to June 2022 looks good because of the reopening of borders, CGS CIMB sees cost escalation to dampen the upside brought about by the oil price increase as geopolitical tensions arise.

Follow the link s for more news on

CGSCIMB

Singapore Airlines

SIA net losses

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia