Singapore Airlines Profit Falls 57% on Air India Losses

Singapore Airlines Group reported a 57 percent decline in net profit to SGD 1.184 billion (about Rs 8,900 crore) for the financial year ended March 2026, primarily due to the absence of a one-off accounting gain from the previous year's Air India-Vistara merger and full-year losses from its stake in Air India.

The carrier disclosed the figures in its annual report released on May 14, 2026. Singapore Airlines, which holds a 25.1 percent stake in the Air India Group, absorbed SGD 846 million in losses from the venture, compared with only four months of exposure in the prior year. The previous fiscal had included a SGD 1.098 billion non-cash gain recognized in November 2024 upon completion of the merger between Air India and Vistara, a joint venture of Tata Sons and Singapore Airlines.

Air India Group, comprising Air India and Air India Express, recorded a comprehensive loss of SGD 3.557 billion (over Rs 26,700 crore), according to management accounts cited by Singapore Airlines. Revenue for the group reached SGD 10.533 billion (over Rs 79,150 crore). Singapore Airlines attributed the losses to industry-wide supply chain constraints, airspace restrictions affecting routes to key...