Latest news with #TataGroup-run
Yahoo
16-05-2025
- Business
- Yahoo
Singapore Air sees trade woes hurting demand in cautious outlook
By Danny Lee and Audrey Wan (Bloomberg) – Singapore Airlines warned tariff and trade tensions on top of broader economic and geopolitical uncertainties could hurt demand for passenger and cargo flights. The city-state flag carrier's cautious outlook emerged despite full-year profit beating estimates and revenue rising to a record as strong travel demand countered intensifying pressure from competitors and geopolitical headwinds. 'The global airline industry faces a challenging operating environment,' the airline said in a statement. The growing challenges 'may impact consumer and business confidence, potentially affecting both passenger and cargo markets,' adding it remained vigilant to adapt to changing market conditions. Net income rose 3.9% to S$2.78 billion ($2.1 billion) in the year ended March 31, higher than analyst estimates for S$2.4 billion. Revenue edged 2.8% higher to a record S$19.5 billion, topping expectations for S$19.3 billion. Singapore Air's muted final quarter underscores the uncertainty hanging over the carrier for the year ahead. While the airline had been confident about robust travel demand, US President Donald Trump's ever-changing policies have hurt consumer sentiment and upended global trade flows. The airline's passenger yield – a key metric of profitability – declined slower than in the previous three years, falling 5.5% to 10.3 Singaporean cents per kilometre. Expenses, including fuel costs, rose. Singapore Air's caution stopped short of any concrete financial impact. That contrasts with major US airlines like American Airlines Group Inc. and Delta Air Lines, which withdrew their full-year guidance, while United Airlines took the unusual step of offering two forecasts factoring in a scenario with and without a tariff impact. Europe's largest carrier, Deutsche Lufthansa, had warned last month it had limited earnings visibility amid the trade tensions. Singapore Airlines Group, which includes budget unit Scoot, carried a record 39.4 million passengers in the fiscal period. The carrier also has a 25.1% stake in Tata Group-run Air India. The city-state's flag carrier has entered deals to jointly operate flights and coordinate schedules and airfares on routes between Singapore and the likes of Indonesia, Japan, Germany and Malaysia with rival carriers to shore up its competitive defences. Net income was boosted by a one-off non-cash gain of S$1.1 billion booked in the third quarter. Stripping out the one-off item, adjusted net income fell 37% to S$1.7 billion. Shares in Singapore Air closed 0.3% higher in Singapore Thursday. That takes its year-to-date gains to 6.8%. More stories like this are available on ©2025 Bloomberg L.P.
Time of India
12-05-2025
- Business
- Time of India
Air India bids adieu to Silchar, flights to stop from June 1
1 2 Silchar: In a landmark decision ending nearly 70 years of aviation service, Air India will suspend flight operations to and from Silchar Airport starting June 1. The Tata Group-run airline's last scheduled flight on the Silchar-Kolkata route will depart on May 31. The suspension — confirmed by senior Air India officials — comes without an official explaination from the airline. Sources reveal that an internal communication has already been circulated, offering voluntary retirement to the airline's permanent station manager in Silchar. However, uncertainty looms over several contractual employees, with no clear reassignment plans. Since its first service in 1955, Air India (formerly Indian Airlines) has played a crucial role in connecting Silchar to the rest of India. The Silchar-Kolkata route, especially the daily flight, has long been a lifeline for the region, consistently averaging 120 passengers per trip. The withdrawal is expected to have far-reaching consequences on regional connectivity. With limited and often unreliable surface transport — especially during monsoons — air travel remains crucial. Air India's departure leaves only IndiGo and Alliance Air operating flights from Silchar, raising fears of capacity constraints and fare surges. "Ticket prices will likely rise as demand outstrips supply, especially during peak travel periods and emergencies," cautioned a travel industry sources. The decision has triggered concern among frequent flyers, local residents, and stakeholders, who urge civil aviation authorities to intervene and ensure continued, affordable air connectivity for Silchar and the broader Barak Valley region.
