Singapore Airlines (C6L) Q3 2026 earnings summary

Executive summary

• Achieved record quarterly revenue of $5,506.2M in Q3 FY25/26, up 5.5% YoY, driven by robust year-end and passenger demand and stronger yields.

• Operating profit rose 25.9% YoY to $791.9M, reflecting disciplined cost management and revenue growth.

• Net profit for Q3 was $504.6M, down 69.0% YoY due to the absence of a prior-year one-off gain from the Vistara disposal and higher losses from associated companies.

• Nine-month revenue reached $15,181M (+3.2%), with net profit at $743.1M, down from $2,368M last year, mainly due to non-recurring items.

Financial highlights

• Passenger flown revenue increased 6.1% YoY to $4,492.8M; cargo revenue declined 5.4% YoY to $580.6M.

• Total expenditure rose 2.7% YoY to $4,714.3M, with net fuel cost up 3.6% and non-fuel cost up 2.3%.

• EBITDA for Q3 was $1,338.9M, with an EBITDA margin of 24.3%.

• Earnings per share (basic) for Q3 was 16.1 cents, down from 54.7 cents a year ago.

• Debt:Equity ratio improved to 0.66 from 0.82 as of 31 December 2025.

Segment performance

• Full-service carrier operating profit grew 21.2% YoY to $740.9M; Scoot operating profit rose to $48.0M from $18.4M.

• SIA Engineering Company operating profit was $6.0M, up from $4.8M YoY.

• Passenger segment: 10.9M passengers carried in Q3 (+6.3% YoY), with load factor at 87.5% (+0.3 pts) and yields up 1.9%.

• Scoot saw a 15.3% YoY increase in passengers and a 2.2 pts rise in load factor to 89.6%.

• Cargo revenue fell 5.4% to $581M, with yields down 6.2% and load factor at 56.3%.