CNBC5/15/2026Business
Singapore Airlines Sees Record Revenue but Air India Losses Drag Net Profit Down 57%
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- Singapore Airlines reported a record revenue of SGD 20.5 billion for FY2024, with operating profit up 39% to SGD 2.38 billion, driven by higher demand and yields.
- However, net profit plunged 57.4% to SGD 1.18 billion due to losses from its 25.1% stake in Air India, exacerbated by the Iran war, Pakistan airspace closure, and a major crash, forcing Air India to cancel nearly a third of its flights during peak travel season.
- Analysts expect SIA to inject more capital into Air India, potentially constraining dividend capacity, though the long-term strategic bet on India's growing aviation market is expected to eventually pay off.
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Singapore Airlines reported a record revenue of SGD 20.5 billion for FY2024, with operating profit up 39% to SGD 2.38 billion, driven by higher demand and yields. However, net profit plunged 57.4% to SGD 1.18 billion due to losses from its 25.1% stake in Air India, exacerbated by the Iran war, Pakistan airspace closure, and a major crash, forcing Air India to cancel nearly a third of its flights during peak travel season. Analysts expect SIA to inject more capital into Air India, potentially constraining dividend capacity, though the long-term strategic bet on India's growing aviation market is expected to eventually pay off.
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This article was originally published by CNBC.
