SIAEC's profits plunged 74.3% to $10.7m in Q1

Uploaded By:  Clarist Zablan Submitted By:  Clarist Zablan Case Study:  No The flights they handled in Singapore shrank to 13% of their usual load. SIA Engineering Company's net profit plummeted 74.3% YoY to $10.7m in Q1 FY2020/21, the company revealed in a business update. Over the same period, revenue shrank 54.1% to $118.5m. As international air travel came virtually to a standstill, the number of flights handled in the company’s Singapore base during the quarter was only about 13% of what they used to handle before the pandemic emerged. read more