Singapore Airlines has reported a sharp 59% decline in net profit for its first fiscal quarter, citing heavy losses from its equity stake in Air India, which has recently faced multiple challenges, including a fatal crash and broader operational turbulence. Net profit dropped to $404 million from $986 million during the same period last year.
SIA Group, the parent company of Singapore Airlines, has announced strong financial results for the fiscal year 2024/25. The group achieved a net profit of $2.1 billion, a 3.9% increase year-on-year, largely driven by a one-off, non-cash accounting gain of $846 million arising from the merger of Air India and Vistara. Total revenue climbed 2.8% to $15 billion, while cash and bank balances…
Vistara, the Indian full-service carrier and a joint venture between Tata Group and Singapore Airlines, has expanded its fleet with the delivery of an Airbus A321neo, bearing serial number 11737. The aircraft is powered by LEAP-1A32 engines from CFM International, and is part of the airline’s push to enhance its medium-haul capabilities with premium narrowbody aircraft.
Air India CEO Campbell Wilson announced plans to complete upgrades of all legacy widebody aircraft by mid-2027. Additionally, repainting and refurbishing of Vistara aircraft are expected to conclude within the next 1.5 years.
Air India has announced a leadership transition as Klaus Goersch, the airline’s Chief Operating Officer (COO), will step down in January 2025. Klaus will assume the role of Executive Vice President (EVP) and COO at Atlas Air Worldwide Holdings (US). His successor will be Basil Kwak, a senior executive from Vistara, marking another significant personnel movement within the Tata Group’s aviation ventures.
