Singapore Airlines Earnings Call Transcripts
Fiscal Year 2026
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Record revenue and operating profit were achieved, driven by strong passenger demand and yield growth, while net profit fell due to the absence of a prior year one-off gain and Air India losses. The group maintains a robust balance sheet, is expanding its fleet, and expects continued yield growth despite fuel cost pressures.
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Record H1 revenue and operating profit were offset by a sharp net profit decline due to Air India losses and higher interest expense. Passenger demand and load factors remain strong, with stable outlook and robust cash position supporting multi-year special dividends.
Fiscal Year 2025
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Operating profit fell 37.3% year-over-year to SGD 1.7 billion, despite record revenue and net profit, the latter boosted by a one-off gain from the Air India-Vistara merger. Passenger and cargo demand remained robust, with strong cash reserves and continued fleet expansion planned.
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Operating profit and net profit both fell 49% year-on-year despite a 3.7% revenue increase, as higher costs and yield declines offset traffic growth. Capacity and partnerships continue to expand, with strong positions in Southeast Asia and India, and new product investments underway.