Other airlines also struggling

Emirates Group, which recently booked its first loss in decades due to border curbs across the globe, received 11.3 billion dirhams (S$4.1 billion) in state support from Dubai this month.

The airline, whose focus has been on inter-continental travel, saw revenue in the financial year that ended March 31 drop more than 60 per cent to 35.6 billion dirhams.

Cathay Pacific Airways suffered a record loss of about HK$21.7 billion (S$3.8 billion) last year, due to the pandemic and social unrest that preceded it in Hong Kong.

Its workforce has declined to about three-quarters of that before the pandemic. Last October, it cut 5,900 staff, 600 of whom were pilots.

The airline has grounded most of its fleet, reduced pay and put many on unpaid leave.

Singapore Airlines (SIA) has raised $15.4 billion, of which $8.8 billion was from selling rights shares, since April last year, and trimmed about a fifth of its employees, according to Bloomberg.

The SIA Group had its worst annual loss - $4.3 billion - in the financial year ended March 31, as Covid-19 decimated global travel.

Latam Airlines Group, the largest carrier in Latin America, filed for bankruptcy protection in May last year because of the pandemic. It is currently evaluating a court-supervised exit plan, which includes proposing acquisition offers to creditors.

The Santiago-based airline reported a US$4.6 billion (S$6.2 billion) loss last year, compared with a profit of US$196 million in 2019.

Wahyudi Soeriaatmadja

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A version of this article appeared in the print edition of The Straits Times on June 19, 2021, with the headline Other airlines also struggling. Subscribe