Singapore Airlines:
The Support of Temasek — December 2023

Quite extraordinary! Singapore Airlines appears to have emerged from the pandemic in better financial health than it had before the onset of the existential threat to the industry provided by Covid-19.

For the two years that Singapore’s borders were effectively closed, SIA’s passenger business evaporated and it lost a total S$3.1bn at the operating level over the period, and reported net losses of S$5.2bn.