SIA's net loss in the second quarter sharply narrowed by 82% to 0.428 billion yuan.

$SIA (C6L.SG)$ Compared to the net loss of 0.409 billion yuan in the first quarter, SIA's second quarter loss increased slightly by 4.6%. The group achieved a net profit of 94.5 million yuan in the second quarter of the 2019 fiscal year. The group's second quarter revenue increased by 95.4% to 15.32 billion yuan.

Improvement in passenger and cargo business, as well as no significant impairment of assets, led to a substantial 82% narrowing of SIA's group net loss to 0.428 billion yuan as of the end of September, compared to a record quarterly net loss of 2.344 billion yuan in the same quarter a year ago (including 1.333 billion yuan in non-cash impairments).

Compared to the net loss of 0.409 billion yuan in the first quarter, the second quarter loss increased slightly by 4.6%. The group achieved a net profit of 94.5 million yuan in the second quarter of the 2019 fiscal year.
In the second quarter, the group's revenue increased by 95.4% to 15.32 billion yuan, compared to revenue of 7.84 billion yuan in the same quarter a year ago (with revenue of 4.22 billion yuan in the second quarter of the 2019 fiscal year). Compared to the revenue of 12.95 billion yuan in the first quarter, the second quarter revenue increased by 18.3%. The operating loss in the second quarter increased by 25.9% to 0.345 billion yuan on a quarter-on-quarter basis.