Singapore Airlines’ profit slumps as AI losses mount

September quarter figure 82% lower y-0-y

- FE BUREAU

SINGAPORE AIRLINES’ (SIA) September-quarter profit declined 82% year-on-year as losses at Air India, in which it holds a 25.1% stake, wiped out much of the group’s earnings despite steady revenue growth.

Net income for the three months ended September fell to 52 million Singapore dollars (S$) as the carrier absorbed the full impact of Air India’s weak finances following the start of equity accounting from December 2024, following the full integration of Vistara into Air India. SIA said its share of results from associated companies was S$417 million lower in the first half, almost entirely due to Air India's losses.