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Tommy777 · 15-05-2009, 02:50

May 15 (Bloomberg) -- Singapore Airlines Ltd., the world’s second-largest carrier by market value, reported its first operating loss in six years and said sales may continue to suffer amid the global recession.

“In the near term, promotional pricing and reduced business travel will keep revenue under pressure,” the airline said in a statement yesterday. “The probability of a sustained recovery has been set back by uncertainties” arising from the swine flu epidemic, it said.

Singapore Air had an operating loss of S$28 million ($19 million) in the three months ended March as the financial crisis sapped demand for air travel. Chief Executive Officer Chew Choon Seng has cut work days, frozen wages and begun taking planes out of service to battle the slowdown that has already pushed Cathay Pacific Airways Ltd. and British Airways Plc into losses.

http://www.bloomberg.com/apps/news?p...KE8&refer=home

15-05-2009, 02:50	#1
Tommy777 ScanFlyer Mile High Club Join Date: Jan 2006 Location: Sacramento, CA Posts: 12,672	Singapore Airlines sliter.. May 15 (Bloomberg) -- Singapore Airlines Ltd., the world’s second-largest carrier by market value, reported its first operating loss in six years and said sales may continue to suffer amid the global recession. “In the near term, promotional pricing and reduced business travel will keep revenue under pressure,” the airline said in a statement yesterday. “The probability of a sustained recovery has been set back by uncertainties” arising from the swine flu epidemic, it said. Singapore Air had an operating loss of S$28 million ($19 million) in the three months ended March as the financial crisis sapped demand for air travel. Chief Executive Officer Chew Choon Seng has cut work days, frozen wages and begun taking planes out of service to battle the slowdown that has already pushed Cathay Pacific Airways Ltd. and British Airways Plc into losses. http://www.bloomberg.com/apps/news?p...KE8&refer=home