Singapore Airlines reports smaller loss in October-December

Singapore Airlines on Thursday reported a net loss of S$142m ($106m) for the October-December quarter, marking the fourth consecutive quarterly loss for the company as the coronavirus pandemic hit the global air travel industry. The result compares to a S$315m net profit in the same quarter a year ago. But the loss for the three months through December was much smaller compared with the July-September quarter's SG$2.34b -- the company's worst ever -- as relatively steady cargo demand and restructuring measures helped offset the impact of a sharp drop in passenger services. The total revenue for the October-December quarter was S$1.06b, down 76% from a year earlier, due to a 98% drop in the number of passengers. Cargo volume, on the other hand, dropped 36%. "In response to the continued strong demand for pharmaceutical and e-commerce shipments, and an uptick in general cargo demand, [Singapore Airlines] added capacity by stepping up the frequency of passenger aircraft operating cargo-only flights and through the resumption of more passenger services," it said. "The utilization of the freighter fleet was also maximized to deliver more cargo capacity." With no domestic routes to fall back on, the city-state's flagship carrier is one of the most severely hit airlines in Asia. Currently, 64 aircraft are used for passenger services and 31 for cargo, while 123 aircraft, including ones already impaired, have been grounded, the company said.<br/>