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Turbulent times for SIA as Covid-19 calls time out to air travel

Published Thu, Jul 9, 2020 · 09:50 PM
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LATE in June, Singapore Airlines (SIA) said the board of NokScoot - a Thailand-based mid-haul low-cost carrier (LCC) in which it has a 49 per cent effective stake through subsidiary Scoot - has passed a resolution to liquidate the troubled airline amid the Covid-19 crisis.

While NokScoot's associate value on the SIA book is currently zero given ongoing losses, SIA will record a total one-off charge of S$123.6 million for the first quarter ended June 30, 2020. This comprises a S$1…

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