Coronavirus Latest News

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

Related Articles

Back to top button
Close