The airline group had revenue of SG$5.7 billion (AU$6.4 billion), up more than 19 per cent on the previous year, but cited a 78.5 per cent rise in fuel costs as the biggest reason for the net loss.
Singapore Airlines’ fuel costs rose by SG$991 million (AU$1.1 billion) compared to the same period in 2025. The carrier says fuel costs are its largest expense.
As a result of the spike in fuel costs, operating profit fell by SG$299 million (AU$332.8 million) or 73.8 per cent to SG$106 million (AU$118 million).
In addition, SG$42 million (AU$46.8 million) in losses from Singapore Airlines’ stake in Air India contributed to the net loss.
The financial loss sits alongside record positive performance for the airline group.
During the quarter Singapore Airlines and its low-cost subsidiary Scoot carried a record number of passengers – 10.9 million, up 6.3 per cent – and raked in SG$4.58 billion (AU$5.1 billion) in passenger revenue, an increase of 18.6 per cent.
Looking forward, Singapore Airlines says demand “remains robust” but warns of further impact if the Middle East conflict continues.
“Geopolitical developments, including the Middle East conflict, continue to add uncertainty to the airline industry’s operating environment,” the airline group wrote in its results release.
“The most immediate impact is on jet fuel prices.
“Sustained elevated prices relative to pre-conflict levels have added significant cost pressure.
“While SIA and Scoot have adjusted air fares and cargo rates to help mitigate this, these measures do not fully offset the impact of significantly higher fuel prices.
“A prolonged…Middle East conflict may also affect supply chains, global trade and macroeconomic conditions.”
