Singapore Airlines Group has posted record half-year revenues of S$11.3 billion as a result of healthy passenger volumes and despite high fuel prices.
Revenues were up 16.8 per cent year on year on the back of passenger traffic of 21.8 million passengers at Singapore Airlines and low-cost carrier Scoot, a 5 per cent increase on the previous year. The group benefited from passengers choosing to transit via Asia rather than the Middle East.
For the half year net profit was S$134 million, down from $S$239 million the previous year, dragged down by the high net cost of fuel which increased 56 per cent year on year. The group said that fuel costs would have been higher but for fuel hedging.
At a 6 November event, SIA unveiled next-generation First Class, Business Class, Premium Economy Class, and Economy Class cabin products. This will include a new KrisWorld in-flight entertainment system, refreshed in-flight dining and beverage offerings; new amenities across all cabin classes; high-speed connectivity; upgraded lounges; and enhanced on-ground services.
The new business class offering would include an adaptable personal space with sliding doors and adjustable divider and fully flat beds with companion-bed configurations.
The airline said that geopolitical developments, including the conflict in the Middle East, have added complexity across operations and supply chains.
It said, “Jet fuel prices remain elevated relative to pre-conflict levels, and continue to place significant pressure on costs. While the group has adjusted airfares and cargo rates, these measures do not fully offset the impact of sustained high fuel prices. An extended conflict could also have spillover effects on broader macroeconomic conditions, potentially leading to further inflationary cost pressure and affecting demand for passenger travel and air freight.”
The airline’s CEO Goh Choon Phong said SIA’s Dubai services and Scoot’s Jeddah services are cancelled until 28 February 2027 and SIA’s Riyadh launch deferred to 28 March 2027.
He also added that AI usage is increasing at the group. The number of monthly users of its Jarvius AI platform has increased 70.2 per cent and more than 5,000 agents have been built using the system. Phong said that the group had identified 550 use cases for generative AI and had completed 190 of these by September 2026.