Singapore Airlines Posts Heavy Losses Over Ineffective Fuel Hedging

A Singapore Airlines A350 performing the inaugural flight from Seattle. (Photo: AirlineGeeks | Katie Bailey)
A Singapore Airlines A350 performing the inaugural flight from Seattle. (Photo: AirlineGeeks | Katie Bailey)


Last week Singapore Airlines posted the first full-year loss of its almost 50-year history amid a collapse in demand due to the COVID-19 pandemic and some heavy losses on its fuel hedging policy.

The airline recorded a net loss of 212 million Singapore dollars ($149.1 million) for the fiscal year ending on March 31. This compares to a 683 million Singapore dollar profit for the previous 12-month period.

On March 24, the small country of Singapore prohibited all short-term visitors to enter or transit through the city, therefore causing a dramatic drop in traffic for all airlines in the Singapore Airlines Group.

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Location: Montreal, QC, Canada

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