SIA News & Analysis
2 articles
Market Mood
Singapore Airlines (SIA) Loses S$1bn on Air India Stake Investment
Singapore Airlines has experienced a loss of approximately S$1 billion on its 25% stake in Air India. An executive stated that the timing of this decision could not have been worse, indicating potential for further challenges ahead. This significant loss draws attention to the airline's investment strategies during changing market conditions. For investors, these challenges may suggest volatility in Singapore Airlines' stock performance moving forward.
Read More: Singapore Airlines (SIA) Loses S$1bn on Air India Stake Investment
Singapore Airlines (SIA) Reports Record Revenue of SG$20.5B
Singapore Airlines (SIA) reported record revenues of SG$20.5 billion ($16.06 billion) for the financial year ending March 31, with a 39% increase in operating profit to SG$2.38 billion. Despite this, net profit fell 57.4% year-on-year to SG$1.18 billion due to losses linked to Air India and a previous accounting gain. Earnings per share reached 38.4 Singapore cents, exceeding the expectation of 35 cents. SIA's investment in Air India, which included SG$360 million in cash, aims for long-term profits despite current operational challenges and industry hurdles.
Read More: Singapore Airlines (SIA) Reports Record Revenue of SG$20.5B