May 8, 2020 / 12:18 AM / a month ago

Singapore Airlines to report Q4 loss on fuel hedges

SYDNEY, May 8 (Reuters) - Singapore Airlines Ltd said on Friday it would report a material operating loss in the quarter ended on March 31 due in part to a collapse in fuel prices that has led to major hedging losses and that it would look to push back aircraft deliveries.

The airline said operating cashflows were expected to remain weak in the quarter ending on June 30 at a time when most of its fleet is grounded due to the coronavirus crisis. Additional fuel hedging losses are expected in that quarter, it said.

“Given the uncertainty in the market, we have taken a pause and plan to monitor developments closely before entering into any additional hedges,” the airline said in a statement. (Reporting by Jamie Freed; Editing by Tom Hogue)

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