SIA FY 2019/2020 SIA reported its first Full Year loss of $212 million. This was mainly due to a loss of $732 million incurred in the 4th quarter (Jan to Mar 20). As expected, there is no dividends declared this time. SIA Net Asset Value (NAV) is now at $7.86, dropping by more than $3 compared to a year ago. This value will change after the rights issue. This means that SIA is currently trading at a Price/NAV ratio of less than 0.50! SIA is in a unique position. While other airlines caters to both domestic and international travels, SIA caters to only international travels. When the number of COVID19 cases decrease in other countries, airlines typically are allowed to start operating their domestic flights which helps them to generate some form of revenue. SIA has to depend on our government negotiation with other countries to start international flights between the countries. Hence, its...