SIA’s first-half profit falls 44% as fuel costs bite

Network expansion: A file picture shows Scoot’s Embraer E190-E2 aircraft being welcomed with water canons. Despite headwinds, SIA reports a 4.9% increase in passenger capacity for 1H27, citing Scoot’s expansion in fast-growing Asia-Pacific markets. — AFP

SINGAPORE: High fuel costs have continued to weigh on Singapore Airlines’ (SIA) earnings, as the airline reported a 43.9% slump in net profit to S$134mil (US$104.3mil) for the first half of its 2027 financial year (1H27).

This was despite a 16.8% rise in revenue for 1H27 to S$11.3bil, driven by stronger demand for both passenger travel and air cargo.