Singapore Airlines Ltd. · SGX:C6L
Singapore Airlines — Q3 FY25/26 Earnings Presentation
20 slides from Singapore Airlines's earnings presentation, Feb 25, 2026
Slide 1: SIA Group Business Update Q3 FY25/26 Results
SIA Group Business Update Q3 FY25/26 Results (Ended 31 December 2025) 25 February 2026 The copyright in this material (other than in respect of information from external sources) is owned by Singapore Airlines Ltd. Singapore Airlines Ltd has not independently verified the information from external s
Slide 2: Presentation by Chief Financial Officer
PRESENTATION BY: Chief Financial Officer Ms. Tan JoAnn The copyright in this material (other than in respect of information from external sources) is owned by Singapore Airlines Ltd. Singapore Airlines Ltd has not independently verified the information from external sources. This material may not be
Slide 3: Group Financial Results Key Highlights
Group Financial Results Key Highlights Q3 FY25/26 operating profit was $792 million, 25.9% higher than last year The Group achieved a record quarterly revenue, underpinned by robust year-end demand and stronger yields Passenger traffic increased 3.2%, while passenger yields improved 1.9% Expen
Slide 4: Key Results of the Group's Main Companies
Key Results of the Group’s Main Companies Q3 Q3 Better/ 9M 9M Better/ FY25/26 FY24/25 (Worse) FY25/26 FY24/25 (Worse) ($’M) ($’M) (%) ($’M) ($’M) (%) Full-service carrier Operating Profit 740.9 611.5 21.2 1,581.1 1,397.4 13.1 Low-cost carrier Operating Profit 48.0 18.4 160.9 9.0 25.2 (64.3) Operatin
Slide 5: Group Operating Statistics
Group Operating Statistics Q3 FY25/26: Overall capacity rose 2.1%, with pax capacity up 2.8% and cargo capacity up 1.2% Passenger Airlines Capacity SIA ASK Scoot ASK Group ASK 9M FY25/26 (YoY) 9M FY25/26 (YoY) 9M FY25/26 (YoY) +2.2% +5.7% +2.9% Q3 (YoY) Q3 (YoY) Q3 (YoY) +0.8% +10.7% +2.8% Slide 5 T
Slide 6: Group Operating Statistics
Group Operating Statistics Q3 FY25/26: Overall capacity rose 2.1%, with pax capacity up 2.8% and cargo capacity up 1.2% Passenger Airlines Capacity SIA ASK Scoot ASK Group ASK 9M FY25/26 (YoY) 9M FY25/26 (YoY) 9M FY25/26 (YoY) +2.2% +5.7% +2.9% Q3 (YoY) Q3 (YoY) Q3 (YoY) +0.8% +10.7% +2.8% Cargo Cap
Slide 7: Group Financial Results
Group Financial Results Q3 Q3 Better/ Better/ 9M 9M Better/ Better/ FY25/26 FY24/25 (Worse) (Worse) FY25/26 FY24/25 (Worse) (Worse) ($’M) ($’M) ($’M) (%) ($’M) ($’M) ($’M) (%) Total Revenue 5,506.2 5,218.6 287.6 5.5 15,181.4 14,716.0 465.4 3.2 Total Expenditure 4,714.3 4,589.7 (124.6) (2.7) 13,586.6
Slide 8: Group Revenue
Group Revenue Q3 FY25/26: Record quarterly Group revenue underpinned by robust year-end traffic demand and stronger yields Record Group Revenue ($'M) Quarterly Revenue 5,218.6 5,506.2 Record 9M Revenue 4,718.4 4,779.0 4,823.8 4,790.4 4,884.8 FY25/26 580.6 613.7 $15,181.4M 540.5 561.6 496.4 530.5 540
Slide 9: Group Operating Statistics - Passenger
Group Operating Statistics - Passenger Q3 FY25/26: Group pax load factor came in at 87.5%, 0.3 percentage points higher than last year 9M FY25/26 RASK: 9.0¢/ask RASK PLF (%) PLF: 87.7% (₵/ask) 100 9.6 10 9.3 8.6 FY19/20 Group RASK 8 (7.5¢/ask) 90 6 87.2 87.9 87.5 FY19/20 Group PLF (82.4%) 4 80 2 70
Slide 10: SIA and Scoot Operating Statistics - Passenger
SIA and Scoot Operating Statistics - Passenger Q3 FY25/26: SIA and Scoot’s RASK rose by 4.0% and 6.6% YoY respectively FSC: SIA Operating Statistics LCC: Scoot Operating Statistics 9M FY25/26 RASK 9M FY25/26 PLF (%) PLF (%) RASK RASK: 9.9¢/ask (₵/ask) RASK: 5.9¢/ask (₵/ask) PLF: 86.8% PLF: 90.8% 100
Slide 11: Group Operating Statistics - Cargo
Group Operating Statistics - Cargo Q3 FY25/26: Growth in cargo loads, while yields remained under competitive pressure 9M FY25/26 Cargo Yield CLF (%) Yield: 35.2¢/ltk (₵/ltk) CLF: 56.5% 100 38.5 40 36.1 35.0 FY19/20 Yield 80 30 (30.5¢/ltk) FY19/20 CLF 60 20 (59.3%) 56.4 56.2 56.3 40 10 20 0 Q1 Q2 Q3
Slide 12: Group Expenditure
Group Expenditure Q3 FY25/26: Total expenditure grew 2.7%, primarily from capacity growth, inflationary pressure and higher net fuel cost Group Expenditure ($'M) 4,453.6 4,589.7 4,539.2 4,486.4 4,714.3 9M FY25/26 4,385.9 4,248.2 $13,586.6M 3,094.0 3,277.3 3,196.0 3,354.0 YoY 2,877.9 3,123.9 3,201.1
Slide 13: Net Fuel Cost and Fuel Hedging
Net Fuel Cost and Fuel Hedging Q3 FY25/26: Net fuel cost increased by 3.6% largely due to higher fuel prices and higher volume uplifted Group Fuel Cost Analysis ($'M) +50.9 -16.9 -22.5 Hedging gain vs loss last year 1,360.3 +36.4 Weakening of +$47.9M Higher weighted USD against SGD (+3.6%) average f
Slide 14: Group Operating Profit
Group Operating Profit Q3 FY25/26: Operating profit rose 25.9% on revenue growth and disciplined cost management Group Operating Profit ($'M) 9M FY25/26 791.9 $1,594.8M 628.9 YoY 470.2 404.5 $170.3M 398.4 325.4 (+12.0%) 284.6 Q3 (YoY) $163.0M Q1 Q2 Q3 Q4 Q1 Q2 Q3 (+25.9%) FY24/25 FY25/26 Slide 14 Th
Slide 15: Operating Profit (YoY progression)
Group Operating Profit (YoY progression) Higher operating profit was driven by record revenue performance Group Operating Profit ($'M) +257.8 -33.1 -47.9 -13.8 791.9 Lower cargo revenue Higher net Others +$163.0M fuel cost (+25.9%) 628.9 Higher pax flown revenue Q3 FY24/25 Pax flown Cargo revenue Ne
Slide 16: Group Net Profit
Group Net Profit Net profit fell primarily due to absence of prior-year one-off accounting gain Group Net Profit ($'M) 1,626.0 1,097.9 9M FY25/26 $743.1M One-off non-cash accounting gain on disposal YoY of Vistara $1,624.9M (-68.6%) 504.6 451.7 410.0 290.3 528.1 Q3 (YoY) 186.1 52.4 $1,121.4M (-69.0%
Slide 17: Net Profit (YoY progression)
Group Net Profit (YoY progression) Net profit fell primarily due to absence of prior-year one-off accounting gain Group Net Profit ($'M) 1,626.0 -1,097.9 -$1,121.4M Higher share of (-69.0%) losses from associated Net interest +163.0 companies expense vs net Higher tax interest income 528.1 504.6 exp
Slide 18: Group Financial Position
Group Financial Position As at As at 31 December 2025 31 March 2025 Total assets ($’M) 40,459.5 43,086.8 Total debt ($’M) 10,435.2 12,914.3 Total cash and bank balances ($’M) 6,078.9 8,257.1 Fixed deposits (placed for tenors longer than 12 months) ($’M) 2,055.3 1,781.1 Total liabilities ($’M) 24,189
Slide 19: Group Financial Results: EPS and EBITDA
Group Financial Results Q3 FY25/26 Q3 FY24/25 Earnings Per Share (cents) - Basic R4 16.1 54.7 - Diluted R5 16.0 51.8 EBITDA ($’M) R6 1,338.9 2,448.7 EBITDA margin (%) R7 24.3 46.9 After excluding the one-off $1.1 billion gain on disposal of Vistara EBITDA ($’M) 1,338.9 1,350.8 EBITDA margin (%) 24.3
Slide 20: Thank You
Thank You The copyright in this material (other than in respect of information from external sources) is owned by Singapore Airlines Ltd. Singapore Airlines Ltd has not independently verified the information from external sources. This material may not be modified, reproduced, distributed, republish
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