By Kimberley Kao and Amanda Lee
Singapore Airlines posted its first quarterly net loss since 2022 despite higher revenue, dragged by soaring jet-fuel prices amid Middle East tensions and a higher share of losses from Air India.
The city-state's flag carrier on Tuesday said it swung to net loss of 75.8 million Singapore dollars, equivalent to US$58.7 million, for the three months ended June, from net profit of S$186.1 million a year earlier.
Operating profit dropped 74% to S$105.5 million due to a sharp rise in net fuel costs amid the Middle East conflict.
The group's share of losses from associates also hurt its bottom line. The company attributed it to losses at Air India, in which it holds a 25.1% stake.
