👁Additional Update:  C6L Singapore Airlines, Q1 FY2026/27 results

Net loss of S$76 million against a S$186 million profit a year ago, entirely a fuel cost story, net fuel expense jumped 78.5% to S$2.3 billion on Middle East pricing. Revenue hit a record S$5.7 billion, up 19.3%, with passenger yields and cargo both climbing. Worth sitting with, demand is not the problem here, cost is.

LEDGER UPDATE

No change to my existing read. Ordinary yield still misses my minimum hurdle by a wide margin, unchanged by today's print, this result confirms the picture I already had on file rather than shifting it. I will be publishing my deep dive analysis of SIA's results later today