Air India’s losses; Singapore Airlines’ profit drops 59%
Singapore Airlines Group, whose bottom line shrank, as it booked losses of Air India and others and saw a depreciate interest income in the June quarter, fell by close to 59 per cent to 186 million Singapore dollars.
Singapore Airlines, which has 25.1 per cent stake in the loss-making Air India, reported a 1.5 per cent increase in total revenue to SGD 4.79 billion, while net profit declined by a massive 58.8 per cent to SGD 186 million in the June quarter, as against the year-ago period. In addition to the lower operating profit, the net earning decline was also driven by a decrease in interest income with lower cash sim balances and declining interest rates, the airline said in a statement on Monday. Air India’s losses
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The group also recorded?
A share of losses of associated companies compared to a share of profits for the same quarter a year ago (-SGD 122 million), including impact from Air India financial results, which formed part of the Group’s results for the same quarter a year ago,” it said. Financial information of Air India Singapore Airlines Group began equity accounting the financial results of Air India from December 2024, once Vistara’s fleet was fully integrated into Air India.
According to the statement?
Seasonal peak in the second quarter of FY2025-26 keeps air travel robust across most route regions. “Nevertheless, the global airline industry is confronting an increasingly unstable operating environment, due not only to geopolitical developments and macroeconomic swings, but also constantly evolving market dynamics including supply chain restrictions and unsustainable cost increases. The Group will be quick and responsive in adjusting to demand patterns,” the company said in a statement.
Air India has been buffeted by a number of headwinds in recent months. Crash On 12 June, Air India’s Boeing 787-8 destined to Gatwick crashed into a building almost immediately after taking off from Ahmedabad.
