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Singapore Airlines Reports Quarterly Net Loss Amid Rising Fuel Costs and Air India Losses

Published July 28, 2026 at 11:02 PM UTC

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Singapore Airlines has reported a net loss of S$76 million for the first quarter ending June 30, 2026, marking its first quarterly deficit since 2022. This downturn occurred despite achieving record revenue of S$5.71 billion, driven by strong travel demand and increased yields. The loss is primarily attributed to a significant 78.5% surge in net fuel costs, totaling S$2.25 billion, following the escalation of the Middle East conflict in February 2026. Additionally, the airline faced a S$42 million share of losses from its 25.1% stake in Air India, which is undergoing a prolonged turnaround process. These factors collectively offset the positive impact of increased passenger numbers and cargo revenue, leading to the reported loss.