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Mayday: Scoots $65 million loss shows its losing this budget dog-fight

Singapore Business Review

It's only a matter of time until SIA has to ease bad the throttle.

In Maybank Kim Eng's estimates, Scoots posted a full-year loss of around SGD65m, dampening SIA's profitability. Maybank noted that Singapore Airlines (SIA) reported 4QFY3/14 net profit of SGD27m, in line with our expectations. The boost came from exceptional gains of SGD19.8m and recognition of tax credits that led to a positive tax charge, but this was offset by losses from associates. Group operating loss of SGD60m in the quarter was a miss (4QFY3/13: SGD44m) with Scoot likely in the red.



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