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Singapore Airlines plunges into US$3.20 billion annual loss amid weak travel demand

Singapore Airlines on Wednesday posted its second-consecutive annual loss, which widened to a record S$4.27 billion (US$3.20 billion), and said it would issue S$6.2 billion of convertible bonds to help weather the coronavirus crisis.The loss for the 12 months ended March 31 was worse than the average S$3.27 billion forecast by eight analysts, according to Refinitiv, and included S$2 billion of impairments largely on the 45 older planes surplus to requirements.It was also far bigger than the S…

Read the original article at South China Morning Post

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