Singapore Airlines said the group’s net profit for the first quarter ended 30 June declined $266 million or 58.8% to $186 million. In addition to the lower operating profit, the reduction in net profit was largely attributable to a lower interest income (-$61 million) on the back of lower cash balances and interest rate cuts, and the group recording a share of losses of associated companies compared to a share of profits for the same quarter last year (-$122 million), notably from Air India’s financial results which were not part of the group’s results for the same quarter last year. The group started equity accounting for Air India’s financial performance from December 2024 following the full integration of Vistara into Air India.
Group revenue climbed $72 million (+1.5%) year-on-year to $4,790 million in the three months ended 30 June 2025. Despite economic and geopolitical uncertainties across the network, demand for air travel and cargo remained strong. SIA and Scoot carried a record 10.3 million passengers, up 6.9% from the same quarter last year. Group passenger load factor inched up 0.7 percentage point to 87.6% as traffic growth of 4.1% surpassed capacity expansion of 3.3%. Passenger yields slipped 2.9% to 10.0 cents per revenue passenger-kilometre amid heightened competition as more airlines continue to add capacity.
Cargo flown revenue fell $10 million (-1.9%), as yields deteriorated 4.4%. Cargo load factor (CLF) declined by 0.8 percentage point to 56.9% as cargo load growth of 2.8% lagged capacity expansion of 4.2%.
Group expenditure rose $138 million (+3.2%) to $4,386 million mainly due to higher non-fuel expenditure (+$246 million; +8.5%), which was driven by the 3.7% rise in overall capacity and inflationary pressures on key cost elements. Net fuel cost was lower by 7.9% (-$108 million), mainly from the 16.9% reduction in fuel prices (-$252 million), which was partly offset by the higher volume uplifted (+$70 million) and a fuel hedging loss against a gain last year (+$109 million). As a result, the group’s operating profit was $405 million for the quarter, $65 million (-13.8%) lower than the prior year.
As of 30 June 2025, the group’s operating fleet comprised 204 passenger and freighter aircraft with an average age of seven years and nine months. SIA operated 144 passenger aircraft1 and seven freighters, while Scoot operated 53 passenger aircraft2. During the quarter, Scoot added one Airbus A321neo, one Boeing 787-8, and one Embraer E190-E2 aircraft to its fleet. The Group has 72 aircraft on order3 at the end of this quarter.
Scoot began operations to Iloilo City (the Philippines) in April 2025 and Vienna (Austria) in June 2025. As of 30 June 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.
Scoot has announced plans to launch services to Da Nang (Vietnam) and Kota Bharu (Malaysia) in October 2025, as well as Nha Trang (Vietnam) in November 2025.
Given the closure of Jetstar Asia on 31 July 2025, the Group will ramp up capacity to various Asian destinations in Malaysia, the Philippines, Sri Lanka, and Thailand to maintain a strong Singapore hub connectivity. This includes Scoot commencing operations to Labuan Bajo and Medan (Indonesia), as well as Okinawa (Japan), subject to regulatory and operational approvals. In addition, the group has worked closely with Jetstar Asia to accommodate affected passengers and offer employment opportunities to impacted staff, where possible.
Singapore Airlines said the demand for air travel remains healthy in the second quarter of FY2025/26 across most route regions due to the traditional summer peak. However, the global airline industry continues to face a volatile operating environment, with challenges ranging from geopolitical developments and macroeconomic fluctuations to changing market dynamics and supply chain constraints.
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