Singapore Air Shares Slump as Air India Loss Hits Earnings

(Bloomberg) – Singapore Airlines Ltd. Share fell the most almost a year after the carrier made a sharp decline in a three -month profit.

In a statement on Monday, the carrier has fallen to 8.7% since August 1, 2024, the largest intrasy decline since August 1, 2024. Net income fell 59% in three months, which ended on June 30th. Weak performance was largely due to losses in Air India, which Singapore Air had 25.1% shares and was not part of last year’s results.

In June, an investigation into the deadly accident of Air India Flight 171 continues and Serpinti will continue to focus on Singapore’s performance. The Indian carrier reduced the capacity in the short term to deal with operational difficulties after the disaster.

Despite the profit shifts, Singapore Air remained positive in the coming months and was careful about geopolitical and macroeconomic volatility in most regions he operated in.

The carrier offers a first look at how winds play in Asia, and Major Western Airlines draws a mixed picture. At the beginning of this month, the American Airlines Group Inc., Returning the appearance of earnings after deep wage reductions to convince reluctant passengers, Delta Air Lines Inc. He gave a more optimistic appearance about the demand and United Airlines Holdings Inc. said that customers continue to book reservation flights.

Analysts had mixed reactions from Citigroup Inc.’s Kaseedit Choonnawat to the results of Singapore Air, which ranged from Morgan Stanley’s Divan Stanley to Divya Gangahar Kothiyal.

JPMorgan Securities Asia Pacific Ltd. Karen Li, the results will be considered a great lady and the share of the share of 7.00 S $ down as a neutrally reduced, he said. It was traded at $ 7.02 at 9:20 local time and fell to $ 6.94.

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