Singapore Airlines Posts First Quarterly Loss Since 2022 As Fuel Bill Jumps $767 Million

Singapore Airlines recorded its first quarterly net loss since 2022 despite a record first-quarter for passengers and revenue. The airline posted a net loss of $59 million, even as revenue rose 20% to a record high, after aviation fuel costs surged by $767 million. SIA spent more than $1.7 billion on fuel in Q1, a 78% jump, with the spike linked to the conflict in the Middle East. Operating profit fell to just under 74%. The loss was also worsened by weakness at Air India, in which SIA holds a 25% stake, amid a modernization overhaul. SIA said it remains confident in demand.