Singapore Airlines losses and Air India stake

In late July 2026, Singapore Airlines (SIA) reaffirmed its commitment to its 25.1 % holding in Air India, describing the partnership as strategic despite writing down the investment’s value after absorbing a S$945.2 million loss for the 2025/26 fiscal year. SIA highlighted progress at Air India in customer service, fleet growth and network expansion, and signaled openness to further capital support, while noting challenges such as high fuel prices, rupee weakness, supply‑chain issues and the closure of Pakistani airspace.

A week later, SIA announced its first quarterly loss since the COVID‑19 pandemic, posting a S$76 million deficit for Q1 FY2026/27. The loss was driven chiefly by a 78.5 % surge in fuel costs linked to the Middle East conflict and an additional S$42 million loss from its Air India stake. Despite record revenue and strong cash balances, operating profit fell sharply. SIA also outlined network changes, adding routes in Australia, expanding capacity to New Zealand, launching a Europe service, and adjusting Middle East flights amid the fuel‑cost pressures.