Singapore Airlines' net loss for the second quarter fell sharply by 82% and narrowed sharply to 428 million yuan

$SIA (C6L.SG)$ Compared with the net loss of 409 million yuan in the first quarter, Singapore Airlines' losses in the second quarter increased slightly by 4.6%. The Group achieved a net profit of 94.5 million yuan in the second quarter of fiscal year 2019. The Group's second-quarter revenue surged 95.4% year over year to 1,532 million yuan.

With improvements in passenger transport and cargo operations and no significant asset depreciation, the Singapore Airlines (SIA) Group's net loss for the second quarter as of the end of September narrowed sharply by 82 percent year-on-year to 428 million yuan, compared with a record quarterly net loss of 2,344 billion yuan (including a non-cash impairment of 1,333 million yuan) a year ago in the same quarter.

Compared with the net loss of 409 million yuan in the first quarter, the loss amount for the second quarter increased slightly by 4.6%. The Group achieved a net profit of 94.5 million yuan in the second quarter of fiscal year 2019.
The Group's second-quarter revenue surged 95.4% year over year to 1,532 million yuan, compared to 784 million yuan in the same quarter a year ago (with revenue of 4,222 million yuan in the second quarter of FY2019). Compared with revenue of 1,295 billion yuan in the first quarter, revenue for the second quarter increased 18.3% month-on-month. Operating losses for the second quarter increased 25.9% month-on-month to 345 million yuan.