Latest news with #Vistara
The Star
18 hours ago
- Business
- The Star
SIA Q1 profit falls 59% to S$186mil; airline group sees volatile times ahead
FILE PHOTO: The cockpit of a Singapore Airlines' Boeing 787-10 Dreamliner is pictured after a delivery ceremony at the Boeing South Carolina plant in North Charleston, South Carolina, US, March 26, 2018. - Reuters SINGAPORE: Singapore Airlines saw its earnings slide 59 per cent in the first quarter of its latest financial year, it announced on July 28 after trading hours. This was due to lower interest income and the share of losses of associates, SIA said. Net profit dropped to S$186 million (US$144.6 million) for the first quarter in the 2025/2026 financial year that ended June 30, down from S$452 million in the corresponding period a year ago. 'In addition to the lower operating profit, the reduction in net profit was largely attributable to a lower interest income on the back of lower cash balances and interest rate cuts, and the group recording a share of losses of associated companies compared to a share of profits for the same quarter last year,' SIA said. This loss was from Air India's financial results, which were not part of the group's results for the same quarter in 2024. SIA started equity accounting for Air India's financial performance from December 2024 following the full integration of Vistara into Air India. Before the merger, Vistara was jointly owned by Tata Sons and SIA. After the merger, SIA holds a 25.1 per cent stake in the enlarged Air India, allowing it to participate directly in the fast-expanding Indian aviation market. SIA's operating profit fell around 14 per cent year on year, to S$405 million. But group revenue climbed 1.5 per cent in the three months that ended June 30. 'Despite economic and geopolitical uncertainties across the network, demand for air travel and cargo remained strong,' SIA said. SIA and Scoot carried a record 10.3 million passengers, up 6.9 per cent from the same quarter in 2024. But passenger yields – the amount earned per passenger for each kilometre flown – slipped 2.9 per cent to 10 cents per revenue passenger-kilometre. This was due to heightened competition, as more airlines continue to add capacity, SIA said. Despite healthy demand for air travel in the second quarter due to the traditional summer peak season, SIA sees volatile times ahead. It said: 'The global airline industry continues to face a volatile operating environment, with challenges ranging from geopolitical developments and macroeconomic fluctuations to changing market dynamics and supply chain constraints. 'The group will be agile and proactive in responding to changes in demand patterns.' Its cargo business is also affected by tariffs announced by US President Donald Trump. A 90-day truce was announced on tariffs, which was meant to end in July but was extended till Aug 1. 'Ongoing tariffs have led to unpredictable and uncertain demand,' SIA said. 'The group's diversified network and verticals reduce its exposure to specific regions or market segments, and will continue to adapt its capacity and seize opportunities as they arise.' It added that it will remain vigilant in this operating environment, while identifying emerging areas of growth. SIA also said its strong balance sheet, workforce and digital capabilities put it in good stead to maintain its industry-leading position. SIA announced recently that it will ramp up capacity to various Asian destinations in Malaysia, the Philippines, Sri Lanka and Thailand, given the closure of Jetstar Asia on July 31. This includes Scoot starting operations to Labuan Bajo and Medan in Indonesia, as well as Okinawa, subject to regulatory and operational approvals. 'In addition, the group has worked closely with Jetstar Asia to accommodate affected passengers and offer employment opportunities to impacted staff, where possible,' SIA said. Scoot has also announced plans to launch services to Da Nang in Vietnam and Kota Bharu in Malaysia in October, as well as to Nha Trang in Vietnam in November. As at June 30, the group's passenger network covered 129 destinations in 37 countries and territories. Its operating fleet comprised 204 passenger and freighter aircraft with an average age of seven years and nine months. SIA operated 144 passenger aircraft and seven freighters, while Scoot operated 53 passenger aircraft. The group also has 72 aircraft on order at the end of this quarter. SIA shares closed up by 0.4 per cent at S$7.60 on July 28. - The Straits Times/ANN
Straits Times
2 days ago
- Business
- Straits Times
SIA's first-quarter profits fall by 59%; airline group sees volatile times ahead
Find out what's new on ST website and app. The fall in profits was due to lower interest income and share of losses of associates. SINGAPORE - Singapore Airlines saw its profits slide 59 per cent in the first quarter of its latest financial year, it announced on July 28 after trading hours. This was due to lower interest income and share of losses of associates, SIA said. Net profit dropped to $186 million for the first quarter in the 2025/2026 financial year that ended June 30, down from $452 million in the corresponding period a year ago. 'In addition to the lower operating profit, the reduction in net profit was largely attributable to a lower interest income on the back of lower cash balances and interest rate cuts, and the group recording a share of losses of associated companies compared to a share of profits for the same quarter last year,' SIA said. This loss was from Air India's financial results which were not part of the group's results for the same quarter in 2024. SIA started equity accounting for Air India's financial performance from December 2024 following the full integration of Vistara into Air India . Before the merger, Vistara was jointly owned by Tata Sons and SIA. After the merger, SIA holds a 25.1 per cent stake in the enlarged Air India, allowing it to participate directly in the fast-expanding Indian aviation market. SIA's operating profit fell around 14 per cent year on year, to $405 million. But group revenue climbed 1.5 per cent in the three months that ended June 30. Top stories Swipe. Select. Stay informed. Asia Thailand, Cambodia agree to 'immediate and unconditional ceasefire' to de-escalate border row Asia Gunman kills 5 near Bangkok's Chatuchak market before taking own life Singapore Tanjong Katong sinkhole: BCA to conduct independent probe, act against any non-compliance Singapore Foreign workers who rescued woman from sinkhole given tokens of appreciation Singapore COE quota up 2.6% to 18,701 for August-October period Singapore Ong Beng Seng set to plead guilty on Aug 4 in case linked to ex-transport minister Iswaran Singapore Jail for former pre-school teacher who tripped toddler repeatedly, causing child to bleed from nose 'Despite economic and geopolitical uncertainties across the network, demand for air travel and cargo remained strong,' SIA said. SIA and Scoot carried a record 10.3 million passengers, up 6.9 per cent from the same quarter last year. But passenger yields – the amount earned per passenger for each kilometre flown – slipped 2.9 per cent to 10 cents per revenue passenger-kilometre. This was due to heightened competition as more airlines continue to add capacity, SIA said. Despite healthy demand for air travel in the second quarter due to the traditional summer peak season, SIA sees volatile times ahead. It said: 'The global airline industry continues to face a volatile operating environment, with challenges ranging from geopolitical developments and macroeconomic fluctuations to changing market dynamics and supply chain constraints. 'The group will be agile and proactive in responding to changes in demand patterns.' Its cargo business is also affected by tariffs announced by US President Donald Trump. A 90-day truce was announced on tariffs, which was meant to end in July, but was extended till Aug 1. 'Ongoing tariffs have led to unpredictable and uncertain demand,' SIA said. 'The group's diversified network and verticals reduce its exposure to specific regions or market segments, and will continue to adapt its capacity and seize opportunities as they arise.' It added that it will remain vigilant in this operating environment, while identifying emerging areas of growth. SIA also said its strong balance sheet, workforce and digital capabilities put it in good stead to maintain its industry-leading position. SIA announced recently that it will ramp up capacity to various Asian destinations in Malaysia, the Philippines, Sri Lanka and Thailand, given the closure of Jetstar Asia on July 31. This includes Scoot starting operations to Labuan Bajo and Medan in Indonesia, as well as Okinawa, subject to regulatory and operational approvals. 'In addition, the group has worked closely with Jetstar Asia to accommodate affected passengers and offer employment opportunities to impacted staff, where possible,' SIA said. Scoot has also announced plans to launch services to Da Nang in Vietnam and Kota Bharu in Malaysia in October, as well as Nha Trang in Vietnam in November. As at June 30, the group's passenger network covered 129 destinations in 37 countries and territories. Its operating fleet comprised 204 passenger and freighter aircraft with an average age of seven years and nine months. SIA operated 144 passenger aircraft and seven freighters, while Scoot operated 53 passenger aircraft. The group also has 72 aircraft on order at the end of this quarter. SIA shares closed up by 0.4 per cent at $7.60 on July 28.
Indian Express
21-07-2025
- Indian Express
Air India flight from Kochi veers off runway during landing at Mumbai airport, passengers and crew safe
An Air India aircraft operating a Kochi-Mumbai flight veered off the runway after touchdown at Mumbai's Chhatrapati Shivaji Maharaj International Airport (CSMIA) amid heavy rain Monday. The Airbus A320neo—bearing registration VT-TYA—taxied safely to the gate and all passengers and crew are safe. The plane has been grounded for checks at the Mumbai airport, and minor damages have been reported to the airport's primary runway—09/27—resulting in the second runway being activated to ensure uninterrupted flight operations at the airport. 'Flight AI2744, operating from Kochi to Mumbai on 21 July 2025, experienced heavy rain during landing, resulting in a runway excursion after touchdown. The aircraft taxied safely to the gate and all passengers and crew members have since disembarked. The aircraft has been grounded for checks. The safety of passengers and crew remain our top priority,' an Air India spokesperson said. According to sources, the aircraft sustained minor damage, but was able to proceed to the gates, where passengers and crew disembarked. After landing amid heavy rain, the plane skidded off the runway onto an unpaved area for a brief period, but was quickly brought back to the paved surface by the pilots. The airport in a statement said, 'An incoming aircraft from Kochi experienced a runway excursion at Chhatrapati Shivaji Maharaj International Airport (CSMIA), Mumbai at 09.27 hours on 21 July 2025. CSMIA's emergency response teams were immediately activated to manage the runway excursion. All passengers and crew are safe. There are minor damages reported to the airport's primary runway—09/27. In order to ensure continuity of operations, the Secondary Runway 14/32—has been activated. At CSMIA, safety always remains our highest priority'. The Mumbai airport has two intersecting runways and only one can operate at a time, making the airport one of the world's busiest single-runway operation airports. As per flight tracking data, the aircraft departed from Kochi at 7.43 am and landed at the Mumbai airport at 9.27 am. The aircraft involved—VT-TYA—is a four-year-old A320neo and earlier operated in the Vistara fleet before the airline's merger with Air India. The plane skidded during continuous rain in Mumbai and the surrounding areas. On Monday morning, the suburbs of Mumbai received 115 mm of rain while only 11 mm was recorded in Colaba, according to the India Meteorological Department (IMD). The IMD issued an orange alert for the city and its suburban districts, warning of moderate to heavy rain at some places over the next few hours. Flight operations from Mumbai airport were diverted to the secondary runway, with inspection and repair work on the affected portion of the main runway starting. The operations at the airport, however, remained unaffected. Sukalp Sharma is a Senior Assistant Editor with The Indian Express and writes on a host of subjects and sectors, notably energy and aviation. He has over 13 years of experience in journalism with a body of work spanning areas like politics, development, equity markets, corporates, trade, and economic policy. He considers himself an above-average photographer, which goes well with his love for travel. ... Read More
News18
27-06-2025
- News18
Delhi Airport Bomb Threat: Note On Tissue Paper Sparks Emergency, Later Declared Hoax
Last Updated: A message found on Vistara flight UK-2954 claimed that a bomb had been planted on flight UK-2948, located at Terminal-3 of Delhi Airport Panic gripped Terminal-3 of Delhi's Indira Gandhi International (IGI) Airport early Thursday morning after a chilling bomb threat note was discovered inside a flight, triggering a full-scale emergency response from security agencies. The threat, scribbled on a piece of tissue paper, warned of an explosive device aboard a separate aircraft, setting off alarms across the country's busiest airport. According to officials, the scare began at 4:42 AM when a flight crew member aboard Vistara flight UK-2954, which had just landed from Mumbai, found the note during post-landing checks. The message claimed that a bomb had been planted on flight UK-2948, located at Terminal-3 of IGI Airport. The crew immediately alerted authorities, prompting swift action by the Central Industrial Security Force (CISF), Delhi Fire Service, and other emergency units. Within minutes, the terminal was placed under heightened alert as security personnel cordoned off the area and initiated a coordinated search operation. Sniffer dogs, bomb detection squads, and fire safety officers swept through the premises, while passengers were held in controlled zones for safety. Though operations continued, the mood was tense throughout the hour-long drill. By around 6 AM, the Delhi Fire Service confirmed that no explosives were found and labeled the threat a 'hoax bomb threat". Flights were not significantly disrupted, and normalcy returned shortly afterward. However, the authorities are treating the incident with utmost seriousness. This kind of false alarm is no trivial matter. It diverts crucial security resources and creates unnecessary panic. We are investigating the origin of the message and will ensure strict legal action against whoever is responsible, said a senior CISF officer. Officials have launched a detailed enquiry into how the threatening note ended up on board and whether it was planted mid-air or earlier during ground operations. CCTV footage, baggage checks, and passenger interviews are reportedly underway to trace the source. The IGI Airport, recognised among Asia's top aviation hubs for its high passenger volume and international facilities, maintains tight security protocols year-round. However, this incident has once again exposed how even a single note can upend routine and trigger a serious security scare. First Published: June 27, 2025, 15:10 IST
Independent Singapore
27-06-2025
- Business
- Independent Singapore
SIA CEO's annual pay fell 13.5% to S$7m despite record profit
Photo: Facebook/Singapore Airlines SINGAPORE: Singapore Airlines (SIA) chief executive officer Goh Choon Phong's annual salary fell by 13.5% to S$7.01 million for the financial year ended March 31. According to Singapore Business Review, Mr Goh's pay package included a base salary of S$1.46 million, S$3.12 million in bonuses, and S$2.44 million in shares and other benefits. In July last year, Mr Goh received a salary of S$8.11 million, 20.5% higher than his salary the previous year , thanks to a post-pandemic travel boom. Mr Goh's annual salary dropped this year even though the group recorded a net profit of S$2.78 billion for the year ended March 31, up from S$2.68 billion the year before. Eligible SIA staff will also see slimmer takings with a 7.45-month bonus for FY2025, slightly lower than the 7.94 months awarded the previous year. The group's profit was boosted by a one-off non-cash gain of S$1 billion after the Air India–Vistara merger was completed in November 2024. See also DBS: S-REITs will continue to be net outperformers in 2024 In November, Singapore Business Review reported that SIA completed the Vistara–Air India merger, giving it a 25.1% stake in the expanded Air India. The group, which includes budget airline Scoot, also posted record revenues after carrying a record 39.4 million passengers. However, the group's operating profit fell 37% as passenger yields declined amid growing competition, though both remained above pre-pandemic levels. In a letter to shareholders, SIA's chairman Peter Seah credited SIA's performance to effective cost management through the company's digital and staff productivity initiatives amid rising expenses. He noted, 'In a year marked by rising geopolitical tensions, supply chain constraints, cost inflation, and an increasingly uncertain macroeconomic landscape due to global tariff wars, the Singapore Airlines (SIA) Group successfully delivered another impressive performance.' Looking ahead, Mr Seah added, 'While aviation landscape is rapidly evolving, the SIA Group is in a strong position to not only withstand these changes but to shape them.' /TISG Read also: Sheng Siong CEO Lim Hock Chee's FY2024 pay rises 20.6% to S$7.06M on bigger bonus See also What We Demand in Return for Fare Hikes
