Singapore Airlines (SIA) reported a first-quarter net loss of more than US$800 million Wednesday, the latest carrier to take a massive hit as a result of the
Passenger traffic was reduced to almost zero in the three months to June, SIA said, leading to the Asian carrier's biggest-ever quarterly net loss of Sg$1.12 billion .
Earnings from cargo flights were not enough to offset the massive decline in passenger numbers, and group revenue plunged 79.3 percent year-on-year, it said. It was also unlikely that the bulk of the airline's 19 Airbus A380s would return to service as there would be overcapacity, he said.
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