SIA Group Posts S$76 Mln Net Loss In 1Q Despite Achieving Record Revenue

By Anas Abu Hassan

SINGAPORE, July 28 (Bernama) -- Singapore Airlines (SIA) Group posted a net loss of S$76 million (S$1=RM3.16) during the first quarter (1Q) ended June 30, 2026, compared to net profit of S$186 million in the same quarter of the preceding year. 

In a statement on Tuesday, SIA said the loss was mainly attributable to the drop in operating profit and a higher share of losses from Air India, partially offset by lower tax expense.

Given the sharp rise in fuel costs, the group recorded an operating profit of S$106 million, down S$299 million or 73.8 per cent from a year ago. 

However, the group achieved a record revenue of S$5.71 billion during the quarter under review, an increase of S$924 million or 19.3 per cent year-on-year.

“The group continued to seize the opportunities and benefit from the robust demand for air travel, with passenger revenue up 18.6 per cent to S$4.58 billion. 

“SIA and (the group’s low-cost carrier) Scoot carried a record 10.9 million passengers, up 6.3 per cent from a year ago,” it said. 

On prospects, SIA said geopolitical developments, including the West Asia conflict, continue to add uncertainty to the airline industry’s operating environment. 

It noted that the most immediate impact has been on jet fuel prices, its largest operating expense, with sustained prices above pre-conflict levels significantly increasing cost pressures.

While both SIA and Scoot have adjusted airfares and cargo rates to help mitigate this, the group emphasised that these measures do not fully offset the impact of significantly higher fuel prices. 

“A prolonged conflict in West Asia may also affect supply chains, global trade, and macroeconomic conditions,” it said. 

-- BERNAMA