SIA narrows first quarter net loss

Singapore Airlines Group has reported an improvement performance for the fiscal year 2021/2 first quarter with passenger traffic up and cargo continuing to bolster revenue. An increase in both passenger and cargo flown revenue resulted in SIA Group revenue increasing by $444 million (+52.2%) year-on-year to $1,295 million. However, the SIA Group recorded a first quarter operating loss of $274 million, an improvement of $763 million (+73.6%) from the $1,037 million operating loss recorded last year. Cargo flown revenue grew by $214 million (+32.4%), as the calibrated resumption in passenger flights contributed to an increase in cargo capacity (+46.9%) and