Singapore Air Shares Slump as Air India Loss Hits Earnings
Singapore Airlines carried a record 10.3 million passengers in the quarter.
Photographer: Brent Lewin/BloombergSingapore Airlines Ltd. share’s slumped the most in almost a year after the carrier posted a sharp decline in quarterly profit.
The stock fell as much as 8.7% in early Singapore trading, the biggest intraday decline since Aug. 1, 2024. Net income dropped 59% to S$186 million ($145 million) in the three months ended June 30, the carrier said Monday. The weaker performance was largely due to losses at Air India, in which Singapore Air holds a 25.1% stake, and which wasn’t part of last year’s results.