Singapore Airlines: first ever annual loss? But despite devastation, well prepared

Premium Analysis

Singapore Airlines (SIA) reported its first quarterly net loss in six years, as weak demand stemming from the global economic slowdown, and excess capacity, particularly in cargo markets, weighed heavily on the carrier. The airline's passenger yields slumped 17.7% in the three months ended 30-Jun-2009, with cargo yields falling an alarming 33%. This occurred despite the carrier simultaneously slashing capacity by double-digit percentages.

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