Singapore Airlines Tumbles Most in Six Years After Surprise Loss
- Starts business review after first quarterly loss since 2012
- Brand SQ has 4Q operating loss; budget unit reports profit
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Singapore Airlines Ltd. shares plunged the most in almost six years after reporting a surprise loss because of intense competition, prompting Southeast Asia’s biggest carrier to kick off a review of its business.
The stock slumped 7.3 percent to S$9.98, erasing S$922 million ($663 million) in market value. Chief Executive Officer Goh Choon Phong said Friday he would leave “no stone unturned” in the review.