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Singapore Airlines Posts 3.2 Billion Annual Loss

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Singapore Airlines Ltd on Wednesday posted its secondconsecutive annual loss, widening to a record S4.27 billion 3.20 billion and said it would issue S6.2 billion of convertible bonds to help weather the coronavirus crisis.

The loss for the 12 months ended March 31 was worse than the average S3.27 billion forecast from eight analysts, according to Refinitiv data.

It was also far bigger than the S212 million annual loss the financial prior year, its first ever dip into the red, when only one quarter was affected by the pandemic. Annual revenue fell 76.1 to S3.82 billion in the financial year ended March 31.

1 1.3323 Singapore dollars

Reporting by Jamie Freed in Sydney, editing by Louise Heavens

Source Reuters

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