Shares & Derivatives
SIA Announced a Massive Half-Year Loss: 5 Things Investors Should Know
By The Smart Investor  •  November 13, 2020
It’s been one of the toughest years in history for Singapore Airlines Limited (SGX: C6L), or SIA. That’s an understatement. As the COVID-19 pandemic swept through the world, it has caused numerous airlines to ground their fleets as countries shut their borders and implemented lockdowns to contain the infections. SIA has not been spared this carnage as restrictions on international travel continue to weigh on its top and bottom lines. Two months ago, the airline announced a further reduction in staff headcount as it digs in for a long winter ahead. Airline capacity is expected to remain below 50% for the foreseeable future, and with no domestic routes to fly, a full recovery is not in the horizon. Last week, SIA released its fiscal 2021 half-year earnings report. Here are five things that investors should know about the airline’s latest update. 1. A massive loss As expected, the first half saw revenue plunge 80.4% year on year to S$1.6 billion as SIA’s fleet remains largely grounded and borders remain mostly shut....
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By The Smart Investor
The Smart Investor is co-founded by David Kuo, Joanna Sng, and Chin Hui Leong. The company was formed in late 2019 from the ashes of the Motley Fool Singapore. The Smart Investor believes that everybody can learn how to invest, smartly. We aim to educate people on how to invest smartly by providing investing education, stock commentary and market coverage for Singapore and around the world.
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