SIAEC Q3 revenue crashes despite cost cuts, gov't support

Uploaded By:  Paul Howell Submitted By:  Paul Howell Case Study:  No The group reported a decrease of 58.5% YoY in revenue for Q3 FY2020-21. SIA Engineering Company (SIAEC), the maintenance arm of Singapore Airlines, lost $147.5m in revenue for the third quarter of FY2020-21 despite cost-cutting measures and grants from the government. The company said it recorded a revenue of $104.6m for Q3. “Even as cost-cutting measures and grants from government support schemes remained, the reduction in group expenditure of $132.5 million (-56.1%) could not fully offset the reduction in revenue,” SIAEC said. read more