Singapore Airlines faces potential S$7.6mln/day loss

Canceling European flights due to volcanic activity and ash cloud could mean loss of sales worth S$7.6 million a day for SIA, or a likely net loss of S$3.7 million on a daily basis.

Although Singapore Airlines has not made an estimate of the impact from the shutdown, UOB-Kay Hian Research's Singapore-based analyst K. Ajith said the carrier is facing the abovementioned figures in terms of losses.

Bloomberg reported, "As many as 63,000 flights have been canceled industrywide after the April 14 volcanic eruption spewed dust across European airspace, causing airports from Dublin to Moscow to shutter."

Meanwhile SIA spokesperson Nicholas Ionides said, "The priority right now is managing the situation and attending to the affected customers."

View the full report in Bloomberg.