Air India inflicts $945 million hit on Singapore Airlines, dragging FY26 profit down 57%
File photo of an Air India flight at an airshow in the United Kingdom. | Photo Credit: REUTERS Air India’s losses dragged down Singapore Airlines’ profitability in financial year 2025-26, with the Tata Group airline contributing a hit of $945.2 million to the Singapore carrier’s bottom line in the first full year since the Air India-Vistara merger. Singapore Airlines (SIA), which holds a 25.1% stake in Air India, reported a 57.4% fall in full-year net profit to $1.18 billion even as operating profit surged 39% to $2.4 billion. The financial year 2025-26 marks the first full year in which SIA absorbed the impact of Air India’s losses after acquiring its stake in the merged Air India-Vistara entity in November 2024. In a press statement on Thursday (May 14, 2026), the airline attributed the sharp decline in net profit to “the absence of a prior year one-off accounting gain, coupled with the share of full year losses from Air India”. Last year, SIA had benefited from a $1.098 billion non-cash accounting gain arising from the completion …
