SIA share prices see 2.7% dip following dismal operating results

SIA's pasenger capacity contracted by 56.3% in March due to muted travel demand.

The share price for Singapore Airlines (SIA) has dipped, according to a Singapore Exchange (SGX) market update.

"The share price of Singapore Airlines has declined 2.7% in the month to 16 April," the SGX said, noting that the flag carrier had recorded lower operating results in March.

In an April 15 bourse disclosure, SIA reported that its passenger capacity contracted by 56.3% in March, as travel demand was yet to recover despite the vaccine roll-out.

"At the end of March 2021, Group capacity reached 23% of pre-Covid levels, lower than our earlier expectation of around 25%," the company said.

Passenger carriage sank by 90.2% for all of SIA's carriers. Singapore Airlines capacity was 50.8% lower, SilkAir crashed by 92.9% and Scoot's by 95.9%.

Scoot is barred from flying passengers to Hong Kong until April 29, as two passengers from Singapore were confirmed to have COVID-19 upon arrival on April 11.