Singapore Airlines (SIA) booked a wider-than-expected loss in the second quarter on Tuesday as the global recession continues to weigh on the company's higher margin business travelers.
The world's biggest carrier by market value posted a second-quarter net loss of S$159 million ($114.6 million), versus a net profit of S$324 million the year before. In July, SIA warned that if tough conditions persist, it is likely to post a full-year loss.
But the carrier said that the outlook has improved, with advance bookings "gradually recovering".
SIA's stock inched 0.1% higher ahead of the results, underperforming the Straits Times Index's 0.5% rise.