The carrier’s first quarterly deficit since 2022 came despite higher revenue, as rising jet fuel costs linked to Middle East tensions and a bigger share of Air India losses weighed on results.
Singapore Airlines posted a first-quarter net loss of S$75.8 million, equivalent to $58.7 million, for the three months ended June, reversing from a profit of S$186.1 million a year earlier despite higher revenue. The result marked the city-state flag carrier’s first quarterly net loss since 2022, with earnings dragged down by soaring jet fuel prices amid Middle East tensions and a higher share of losses from Air India.