Airline Weekly Lounge Is Singapore Airlines Still A Profit Superstar?
Feb 26, 2026
Adam Stacey, senior editorial events and awards producer at Skift, explains the Skift Idea Awards and why they matter to travel. He breaks down categories and the submission process. The conversation highlights how the awards connect innovation to industry relevance. Short, clear takes on what entrants should know and why the awards matter.
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Premium Demand Powers Singapore Airlines
- Singapore Airlines' strong quarter was driven by premium demand with revenues rising ~6% versus costs up ~3%, producing a 14% operating margin for the quarter.
- The carrier's full-year 2025 operating margin was 9%, helped by premium cabins and a healthy Singapore economy tied to AI and pharmaceuticals exports.
Ignore Net Headlines Without Context
- Headlines showing a 69% net profit drop are misleading because last year's net was bumped by one-off accounting items from the Vistara merger.
- Look at operating results (excluding special items) to judge ongoing business health — Singapore's operating performance actually improved year-over-year.
Air India Investment Weighs On Net Profits
- Singapore Airlines' net results are being dragged by accounting losses from its Air India investment despite strong operating performance.
- The Air India acquisition is a strategic diversification into a high-potential but troubled 'fixer-upper' requiring heavy turnaround work.