, or SIA, is seeing a surge in demand for air travel as borders reopen.
This level of net loss was significantly better than the S$4.3 billion incurred in FY2021, the worst year in SIA’s history.With Singapore fully reopening its borders last month under the Vaccinated Travel Framework, investors can expect passenger numbers to ramp up further. At the end of FY2022, SIA flew to a total of 93 destinations in 36 countries, up from 85 at the end of the previous quarter.
KrisFlyer, SIA’s loyalty programme, also relaunched its new monthly promotion after two years to allow members to stretch the value of their miles and book spontaneous getaways to various destinations.Investors should, however, watch out for the potential conversion of SIA’s Mandatory Convertible Bonds into shares.Assuming all of the MCBs are converted to ordinary shares without any redemptions, the total number of shares to be issued is around 3.