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Singapore Airlines earnings sink 82% in second quarter, well below forecasts on Air India drag
CNBCยท 2025-11-13 09:48
Core Insights - Singapore Airlines reported an 82% decline in second-quarter earnings, primarily due to losses from its stake in Air India and reduced interest income [1] - The net profit for the first half of the fiscal year fell to 239 million Singapore dollars, a decrease of 67.8% compared to the previous year [1] Financial Performance - Revenue for the quarter was 4.89 billion Singapore dollars, slightly below the expected 4.94 billion Singapore dollars [5] - Net profit was reported at 52 million Singapore dollars, significantly lower than the expected 181.47 million Singapore dollars [5] Stake in Air India - Singapore Airlines holds a 25.1% stake in Air India following its merger with Vistara, which is co-owned with Tata Sons [2] - Air India is seeking at least 100 billion rupees (approximately 1.1 billion dollars) in financial aid from Singapore Airlines and Tata Sons after a tragic crash in June [2] Strategic Partnerships - Singapore Airlines has been expanding its commercial partnerships, launching new codeshare services with Vietnam Airlines to enhance connectivity in Southeast Asia [3] - The airline deepened its joint venture with the Lufthansa Group by adding Brussels Airlines, improving routes between Europe and the Asia-Pacific region [4]