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Historic loss at Singapore Airlines showcases Asian aviation woes

Lacking hopeful signs, Cathay Pacific reviewing 'all aspects of business'

Jets belonging to Singapore Airlines and its Scoot budget carrier are pictured on the tarmac at Changi Airport in Singapore on March 11. Asian airlines are reeling as passenger numbers have sharply declined this year due to the coronavirus pandemic.   © Reuters

SINGAPORE -- Asia's airlines reported massive losses in the January-March period on the coronavirus pandemic, highlighting a stunning reversal for companies that until last year had profited from rising travel demand in tandem with the region's rapid economic growth.

With the coronavirus outbreak becoming more serious for most countries from April, the impact on the aviation industry is likely to be prolonged, forcing many carriers to secure bridging capital to survive the crisis.

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