Singapore Airlines Reports Progress in Air India Transformation

Singapore Airlines reported that Air India has made tangible progress in its multi-year transformation, specifically citing improvements in operational performance and customer experience. The airline, which holds a 25.1 percent stake in the Air India Group, noted that reduced losses from Air India contributed SGD 68 million to its first-half financial performance improvement.

Despite these gains, Singapore Airlines and its partner, Tata Sons, acknowledged that a turnaround of this scale will require more time. Current efforts are focused on refining commercial strategies, improving cost efficiencies, and strengthening synergies between Air India and Air India Express.

Separately, the Singapore Airlines Group saw its first-half net profit decline 43.9 percent to SGD 134 million. This drop occurred despite the group achieving record revenue of SGD 11.3 billion, as a surge in jet fuel prices driven by conflict in the Middle East impacted the bottom line.