Singapore Airlines reports USD 76m Q1 loss

Singapore : Singapore Airlines (SIA) Group reported a net loss of USD 76 million for the first quarter of fiscal year 2026/27, as a sharp increase in fuel expenses offset record revenue growth.

The airline group posted revenue of USD 5.71 billion for the quarter ended June 30, 2026, up 19.3 percent from a year earlier, supported by strong passenger and cargo demand. Passenger revenue rose 18.6 percent to USD 4.58 billion, while SIA and Scoot carried a record 10.9 million passengers during the period.

However, group expenses climbed 27.9 percent to USD 5.61 billion, driven largely by a 78.5 percent jump in net fuel costs to USD 2.25 billion. The increase followed a surge in jet fuel prices linked to the escalating Middle East conflict, putting pressure on airline profitability.

SIA recorded an operating profit of USD 106 million, down 73.8 percent year over year. The company said the higher fuel burden and increased losses from its investment in Air India weighed on its bottom line.

Despite the loss, SIA maintained a strong financial position, with cash and bank balances of USD 9.10 billion and shareholders' equity of USD 16.59 billion.