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No. 01/21 SINGAPORE AIRLINES ● 4 February 2021 Page 1 of 6 SIA GROUP REPORTS $ 142 MILLION NET LOSS IN THE THIRD QUARTER • Quarter - on - quarter increase in Group passenger capacity and passenger carriage • Weakness in passenger business persists as border controls and travel restrictions remain in place 4 February 2021 • Strong cargo performance as loads and yields benefitted from global airfreight capacity crunch and healthy demand • Solid liquidity positions the Group to tackle the unprecedented Covid - 19 challenges Ongoing Transformation programme to drive digital leadership and excellence in product and services while prioritising health and safety measures GROUP FINANCIAL PERFORMANCE Third Quarter 2020/21 – Profit and Loss International air travel demand remained severely constrained in the quarter , as border controls and travel restrictions continued to be in place in many countries amid new waves of the Covid - 19 infection . As a result , the SIA Group's passenger carriage shrank 97.6 % year - on - year . However , when compared to the previous quarter , passenger carriage grew 44.8 % on the back of a 90.8 % increase in capacity for the third quarter . Group revenue fell $ 3,404 million ( -76.1 % ) year - on - year to $ 1,067 million during the third quarter , as all three passenger airlines within the Group recorded a sharp drop in passenger flown revenue due to low traffic . This was partially offset by improvements in cargo flown revenue , as the global airfreight capacity crunch continued to provide strong support for both load factors and yields . In response to the continued strong demand for pharmaceutical and e - commerce shipments , and an uptick in general cargo demand , SIA added capacity by stepping up the frequency of passenger aircraft operating cargo - only flights and through the resumption of more passenger services . The utilisation of the freighter fleet was also maximised to deliver more cargo capacity . Note 1 : A summary of the SIA Group's unaudited financial results and operating statistics for the third quarter ended 31 December 2020 is shown in Annex A. All monetary figures are in Singapore Dollars . The Company refers to Singapore Airlines , the Parent Airline Company . The Group comprises the Company and its subsidiary , joint venture and associated companies .