Singapore Airlines posts first-ever annual loss on fuel hedges, virus
1 MIN READ

SYDNEY (Reuters) - Singapore Airlines Ltd (SIAL.SI) on Thursday reported its first-ever annual loss due to poor fuel hedging bets and a collapse in demand driven by the coronavirus pandemic.

The airline, a bellwether for premium travel in Asia, swung to a S$212 million ($149.14 million) net loss in the financial year ended March 31, down from a S$683 million profit a year earlier.

In the fourth quarter, it lost S$732 million, down from a S$203 million profit the prior year. It did not declare a dividend.
https://www.reuters.com/article/us-singapor...s-idUSKBN22Q1GL

So Air Asia share nosedive tomorrow?

SOS

I would also ask why must bailout? Boss 1 and boss 2 farked up. They had their chance.... so why can't we just let it fail? Is it all that bad to let it fail?
Perhaps another better company could be born from AirAsia failure!

All the main problem stems from boss 1 and boss 2 piss poor management...
You seriously think they should be bailed out?

I don't.

SIA got the backing from Temasek, Temasek will undertake the right issues if anybody does not want to subscribe it. Meanwhile Airasia is privately owned and u think Tony able to undertake the right issue?

The way i see Airasia need RM1-2bil to stay afloat, probably by mixture of right issue/private placement and hopefully government loan.

If they were well managed, the money from the sale and leaseback of their planes, would solved all problems, no?
Instead, we know what happened to those money....
Let this company fail laaaa.... cannot meh? 

AirAsia weighs raising RM1 bil via rights issue
Bloomberg -July 8, 2020 8:11 PM

AirAsia is also weighing raising additional funds via the sale of stakes in its digital and cargo units in order to further strengthen its financial position.
KUALA LUMPUR: AirAsia Group Bhd. is considering raising about RM1 billion through a rights issue after an external auditor raised concerns about its viability, according to a person with knowledge of the matter.

The budget carrier is working with an adviser on the planned capital raising, said the person, who asked not to be named as the information is private.

AirAsia is also weighing raising additional funds via the sale of stakes in its digital and cargo units in order to further strengthen its financial position, said the person.

Deliberations on the planned rights issue and stake sales are still ongoing and AirAsia may decide not to proceed, said the people.

A representative for AirAsia declined to comment on the matter.
https://www.freemalaysiatoday.com/category/...a-rights-issue/

That one line -> Deliberations on the planned rights issue and stake sales are still ongoing and AirAsia may decide not to proceed, said the people.

That's really the lifeline and some of us talked about the possibility of rights issue in this thread itself. However. that above line is rather suggesting in my opinion. Why wouldn't AirAsia would decide not to proceed? My simple guess? Boss 1 and Boss 2 due to the size of their shareholding might not want to forking out their own money to save AirAsia. Rather telling isn't it?

Singapore Airlines reports US$817m loss in 1Q due to pandemic

SYDNEY: Singapore Airlines Ltd on Wednesday reported a S$1.123 billion ($816.73 million) first-quarter net loss after drastically cutting capacity due to the decline in demand and travel restrictions associated with the Covid-19 coronavirus pandemic.

The net loss compared with a S$111 million profit in the three months ending June 30 the prior year. Revenue plunged 79.3% to S$851 million during the quarter, the airline said in a statement.

Singapore Airlines this month had warned it would report a material operating loss in the first quarter, including fuel hedge losses from sinking oil prices. ($1 = 1.3750 Singapore dollars). - Reuters
https://www.thestar.com.my/business/busines...due-to-pandemic