The swing from a share of profits of associated companies last year to a loss this year (-$846 million) was due to the group accounting for its share of Air India’s full-year losses, versus only four months the previous year.
Singapore Airlines’ net profit fell by 57.4% to $1,184 million despite recording a record revenue of $20,522 million for FY2026, for the 12 months to March 31, up 5% y-o-y or $982 million.
The decline was due to the absence of the $1,098 million non-cash accounting gain recognised in November 2024 upon the completion of the Air India-Vistara merger.
