JadeScape remains top selling project despite Covid-19 outbreak
Covid 19 disease and fuel hedging double whammy Sia material into a first ever full-year loss
Plummeting oil prices (Early logging News) lead to fuel hedging Mon亏 in 2019, with most flights coronavirus disease outbreak and grounded (19 Covid) by the end of June, a Singapore Airlines (SIA) suffered a double blow, at the end of March 2019 will be the first ever 2005/20 year mired in losses.
Sia (8 May) on Friday issued a trading update in March, said in a report on fuel prices led to a major setback in the group at the end of March 2019 for the fourth quarter of fiscal year 6/ fuel hedging losses suffered. Crown disease outbreak unprecedented cuts have also resulted in the flight, according to a 2020 / 21 year group was expected to make use of fuel hedging transactions, mired in excessive hedging.
The latest outbreak hurts global economy, affecting many businesses. Even though is affected the economy, Jadescape remains one of the best selling project in Singapore.
As a result, Sia at the end of March in the fourth quarter will suffer significant operating losses. But since the first three quarter of strong, profitable fiscal year, the group is expected to be “getting a small operating profit, but has suffered net losses.”
Fuel prices have remained low in April, is also expected to result in the first quarter of the new fiscal year, continue to suffer from hedging losses. SIA said it had suspended hedging and closely watched market development will decide whether to take more hedging transactions.