Singapore Airlines reported its Q2 earnings fell 82% due to losses from its holding in Air India and lower interest income. Net profit for the first half of the fiscal year fell to S$239 million, down 67.8% from a year earlier, the company said. The flag carrier announced it would pay a special dividend of 10 Singapore cents per share annually over three financial years, amounting to about S$900 million. Interest income in the second quarter fell S$42 million due to interest rate cuts and lower cash balances from dividend payouts and loan repayments. The share from associated companies, including Air India, took a S$295 million.
Singapore Airlines holds a 25.1% stake in Air India following its November 2024 merger with Vistara, co-owned with India’s Tata Sons. SIA began equity accounting for the airline from December 2024. “Despite the ongoing challenges, the SIA Group remains committed to working with its partner Tata Sons to support Air India’s comprehensive multi-year transformation programme,” the carrier said in a statement.
As of 30 September 2025, the Group’s operating fleet comprised 208 passenger and freighter aircraft with an average age of seven years and eight months. In the second quarter, SIA added three Boeing 737-8s, bringing its operating fleet to 145 passenger aircraft1 and seven freighters. Scoot took delivery of two Airbus A320neos, one Boeing 787-8, and one Embraer E190-E2, bringing its fleet to 56 passenger aircraft2. The Group has 67 aircraft on order.
For the Northern Winter 2025 operating season (26 October 2025 to 28 March 2026), SIA will increase frequencies to destinations such as Auckland, Busan, Da Nang, Kathmandu, Kochi, Phuket, Siem Reap, and Tokyo (Haneda), to meet the higher demand for air travel during the year-end peak. SIA will also operate supplementary services to Chitose (Sapporo) (November 2025 to January 2026), Christchurch (November 2025 to February 2026), and Taipei (February 2026 to March 2026).
Scoot deepened its presence in Southeast Asia, launching services to Da Nang and Kota Bharu in October 2025. Additionally, in the Northern Winter 2025 operating season, it will increase frequencies to Denpasar (Bali), Bangkok, Jakarta, and Penang. Scoot will commence operations to Nha Trang in November 2025, Labuan Bajo, Okinawa, and Semarang in December 2025, Chiang Rai and Palembang in January 2026, Medan in February 2026, and Tokyo (Haneda) in March 2026.
As of 30 September 2025, the Group’s passenger network covered 129 destinations in 37 countries and territories4. SIA served 78 destinations and Scoot served 73. The cargo network consisted of 133 destinations in 38 countries and territories, maintaining diverse global coverage.
Singapore Airlines’ 25.1% stake in the Air India Group is part of its long-term multi-hub strategy, providing a stake in one of the world’s largest and fastest-growing aviation markets. This strategic investment complements the SIA Group’s Singapore hub, enabling direct participation in India’s domestic and international markets and unlocking access to new traffic flows. Despite the ongoing challenges, the SIA Group remains committed to working with its partner Tata Sons to support Air India’s comprehensive multi-year transformation programme.
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