May 20, 2022: On Wednesday, Singapore Airlines posted a more limited annual loss of S$962 million when demand remained low because of the pandemic but said the outlook was enhanced as travel restrictions were eased.
SIA’s loss in the 12 months will end on March 31, its third consecutive year, was an improvement from the S$4.3 billion loss a year before that included impairment charges on 45 older aircraft.
The recent figure was in line with the forecast of a S$968.5 million net loss from 11 analysts polled by Refinitiv. Annual revenue is doubled to S$7.6 billion.
SIA said passenger capacity would average almost 61% of pre-pandemic levels in the first quarter and 67% in the second quarter as the outlook improved.
“Key markets worldwide have eased travel restrictions, which supported a strong recovery in demand in air travel across all cabin classes,” SIA said in a statement.
It further said that forward sales, when measured as a percentage of available seats, approached the pre-pandemic levels for the three months up to August.
On April 1, Singapore took a substantial step forward in reopening by allowing completely vaccinated travelers to enter the country without the need to quarantine or take an on-arrival test for Covid-19 and lifting all daily arrival quotas. From April 26, removing the need for pre-departure tests.
The country’s transport minister said that passenger traffic at Singapore’s Changi Airport had been twice compared to May and March to stand at nearly 40% of pre-Covid levels.
Like rival Cathay Pacific Airways, SIA lacks a domestic market-based in Hong Kong. But Singapore has been reopening faster than Hong Kong, allowing SIA to quickly restore pre-pandemic capacity levels.
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Systems thinking is an approach that focuses on understanding how different parts of a system interact and influence one another within a whole. It is a holistic framework considering interrelationships and patterns rather than static snapshots. By expanding perspectives, systems thinking clarifies complex situations and can spur innovation.
A definite ‘NO’ to the question if struggling families had child care asked by a group of committed volunteers in the San Fernando Valley in 1974, urged the volunteers to look for a way to support families struggling to find quality child care, development, and education services for their families. That year, the San Fernando Valley Child Care Consortium and the Mayor’s Child Care and Junior Task Force proposed the first child care resource center in the San Fernando Valley. Doris McLain was elected chairperson as Mayor Bradley accepted the proposal and gave the newly founded Child Care Resource Center (CCRC) space in Van Nuys City Hall Center. CCRC began 45 years to help working moms find child care.
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