SIA shares fall as much as 3.6% on net profit drop
Shares of flag carrier Singapore Airlines (SIA) fell as much as 3.6 per cent on Friday (Nov 14) after it reported an 82.1 per cent drop in net profit.
The counter fell as low as S$6.41 after the market opened, having closed at S$6.65 on Thursday, before the results were announced.
For the second quarter of FY2026 ended September, SIA posted net profit of S$52 million, down from S$290 million in the year-ago period.
The group attributed the drop to Air India, in which it holds a 25.1 per cent stake. The Indian flag carrier is currently undergoing a fleet renewal and cabin retrofit process, helmed by former Scoot CEO Campbell Wilson.
However, SIA’s quarterly operating profit, which excludes results from associated companies, rose about 23 per cent to S$398 million.
Air India was also struck by tragedy in June, when Flight 171 crashed upon takeoff from Ahmedabad. Investigations into the fatal accident are ongoing.
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Originally published by businesstimes.com.sg. Syndicated material does not necessarily reflect the views of Vanity Fair Fashion.