SIA continues recovery with net loss of $274m for Q1 2021

The value is an improvement over last year’s $763m.

Singapore Airlines (SIA) announced today a net loss of $274m for the first quarter of 2021.

This is an improvement over last year’s net loss of $763m by 63.6%. SIA attributes this to better operating performance and the lack of non-cash impairment charges from the liquidation of NokScoot.

SIA also reported a 52.2% increase in revenue at $1.3b for the time period, compared to $851m from last year. A factor that the group points is the uptick in passenger and cargo revenue, as cargo flown in generated 32.4%.

Passenger load also recorded a 14.8%, whilst passenger traffic grew by 28% of pre-COVID-19 levels.

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