SIA posts H1 2020 net loss of $3.5bn

Singapore Airlines (SIA) has reported a record loss for the first half of its 2020/21 fiscal year, with group revenue down by 80.4% to $6.691bn in the six months to end Sept 2020 and a net loss of $3.467bn. This figure was partially offset by stronger cargo revenue, which rose 28.3% to $274 million. Expenses fell 55% to $3.497bn, due to lower fuel expenditure, with non-fuel expenses down 54% as a result of capacity cuts, contract negotiations and staff-related measures. The group has so far reduced its headcount by 4,300 positions across its three airlines, incurring a cost of $42