BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - SIA Group said international air travel continued to recover during the first half period. The Group's passenger traffic, measured in revenue passenger-kilometres, grew five-fold year-on-year, with passenger capacity also growing five-fold year-on-year to reach 32% of pre-Covid-19 levels as of September 2021. Looking forward, the Group expects passenger capacity to reach 43% of pre-Covid levels by December 2021.
For the half year ended 30 September 2021, the Group posted a net loss of S$837 million, an improvement of 75.9% from prior year. Loss per share, in cents, was 15.4 compared to a loss of 98.6. The company said this was mainly due to better operating performance, and the absence of S$1.63 billion in non-cash items recorded last year largely from the impairment of aircraft assessed to be surplus to requirements. The Group recorded an operating loss of S$619 million, an improvement of 66.8% from last year.
Group revenue rose 73.0% year-on-year to S$2.83 billion, attributable to improvements in both the passenger and cargo segments. Passenger flown revenue grew by 385.8% on the back of the recovery in traffic, partly offset by weaker yields, the company said.
The Board of SIA Group is not proposing an interim dividend for the half-year ended 30 September 2021.
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