Singapore Airlines reports drop in profit with pessimistic outlook for second half earnings
Skift Take
Higher fuel costs and fewer passengers outweighed Singapore Airlines’ jump in revenue. Current market pressures suggest that the legacy carrier would do better by shifting focus to its budget airline Scoot.
Singapore Airlines (SIA) said Friday its first-half net profit fell 30 percent from last year, and warned the outlook was bleak as the eurozone debt crisis dents global business confidence.
“The continuing European economic crisis is dampening global business confidence, exerting downward pressure on loads and yields of both passenger and cargo businesses,” the leading Asian carrier said in a statement. “These challenging market conditions are exacerbated by high and volatile jet fuel prices.”
Up Next
Business Travel
The State of Corporate Travel and Expense 2025
A new report explores how for travel and finance managers are targeting enhanced ROI, new opportunities, greater efficiencies, time and money savings, and better experiences for employees with innovative travel and expense management solutions.
Sponsored 
Airlines
Premium Air Travel Defined the Industry in 2024 — Will the Momentum Last?
It’s not just long-haul network airlines that are taking advantage of this increasingly lucrative segment. Low-cost carriers are marching in the premium parade too.
Travel Technology
New Skift Feature: Uncovering Tech Vendor Opportunities Using AI Analysis
Our goal is to use AI for one its best features today mixed with our expect editorial insight and unearth the tech opportunities these documents reveal—whether that’s upcoming system upgrades, emerging RFPs, or digital transformations.
Podcasts
New Skift Podcast Mini-Series: How I Travel
This first episode of "How I Travel" with Colin Nagy is amongst the best travel podcast episodes you have ever listened to. I know – a big promise, listen in for a soulful holiday inspiration.
Airlines
Japan Airlines Under Cyberattack, Flights Delayed
The operational disruption, though temporary, highlights the aviation sector's vulnerability, especially at a time when airlines are ramping up digital innovation to improve customer experience.