Singapore Airlines swings to 4Q loss; dividends slashed

SINGAPORE (May 18): Singapore Airlines (SIA) swung to a loss of $138.3 million in the fourth quarter ended March, compared to earnings of $224.7 million in the corresponding quarter last year.

This brought earnings to $360.4 million for the full year, a 55.2% decline from $804.4 million a year ago.

The loss in 4Q was largely attributable to a $132 million provision for SIA Cargo for competition-related matters, as well as the absence of refund of a fine of $117 million that the group received last year.

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