However, when compared to the previous quarter, passenger carriage grew 44.8 per cent on the back of a 90.8 per cent increase in capacity for the third quarter.
Group revenue fell S$3,404 million (-76.1 per cent) year-on-year to S$1,067 million during the third quarter, as all three passenger airlines within the Group recorded a sharp drop in passenger flown revenue due to low traffic.
This was partially offset by improvements in cargo flown revenue, as the global airfreight capacity crunch continued to provide strong support for both load factors and yields. In response to the continued strong demand for pharmaceutical and e-commerce shipments, and an uptick in general cargo demand, SIA added capacity by stepping up the frequency of passenger aircraft operating cargo-only flights and through the resumption of more passenger services.
The utilisation of the freighter fleet was also maximised to deliver more cargo capacity.
Group expenditure was down S$2,624 million (-65.2 per cent) from last year to S$1,398 million. Non-fuel expenditure fell significantly year-on-year, by S$1,540 million (-54.7 per cent), on the back of cost-saving initiatives such as capacity cuts and staff-related measures, as well as government support schemes.
As a result, the Group registered an operating loss of S$331 million for the third quarter 2020/21, a S$780 million reversal from an operating profit of S$449 million last year.
For the quarter ended 31 December 2020, the Group reported a net loss of S$142 million, a deterioration of S$457 million against last year. This was primarily driven by the weaker operating performance, partially offset by a swing from tax expense to tax credit.
SIA capacity hike shows in Q4 results
BTN News
Monday, 08 February 2021
However, when compared to the previous quarter, passenger carriage grew 44.8 per cent on the back of a 90.8 per cent increase in capacity for the third quarter.
Group revenue fell S$3,404 million (-76.1 per cent) year-on-year to S$1,067 million during the third quarter, as all three passenger airlines within the Group recorded a sharp drop in passenger flown revenue due to low traffic.
This was partially offset by improvements in cargo flown revenue, as the global airfreight capacity crunch continued to provide strong support for both load factors and yields. In response to the continued strong demand for pharmaceutical and e-commerce shipments, and an uptick in general cargo demand, SIA added capacity by stepping up the frequency of passenger aircraft operating cargo-only flights and through the resumption of more passenger services.
The utilisation of the freighter fleet was also maximised to deliver more cargo capacity.
Group expenditure was down S$2,624 million (-65.2 per cent) from last year to S$1,398 million. Non-fuel expenditure fell significantly year-on-year, by S$1,540 million (-54.7 per cent), on the back of cost-saving initiatives such as capacity cuts and staff-related measures, as well as government support schemes.
As a result, the Group registered an operating loss of S$331 million for the third quarter 2020/21, a S$780 million reversal from an operating profit of S$449 million last year.
For the quarter ended 31 December 2020, the Group reported a net loss of S$142 million, a deterioration of S$457 million against last year. This was primarily driven by the weaker operating performance, partially offset by a swing from tax expense to tax credit.
