SIA shares close 3.1% lower after Q1 earnings dive

[SINGAPORE] Shares of national carrier Singapore Airlines (SIA) on Wednesday (Jul 29) morning dipped, following the release of its Q1 FY2026 earnings.

The counter was down 4 per cent in early trade, before declining further to S$7.44 as at 9.15 am, down 4.3 per cent after 2.8 million securities worth S$21.2 million were transacted.

SIA later pared some losses to close S$0.24 or 3.1 per cent lower at S$7.53, after 16.1 million securities worth S$120.6 million changed hands.

The airline reported its first-quarter results on Tuesday, posting a net loss of S$76 million, compared with a net profit of S$186 million in the same period the year before.

This comes on the back of lower operating profit, due to a 78.5 per cent surge in net fuel costs because of the Middle East conflict, and a higher share of losses from Air India.

Operating profit stood at S$106 million for H1, down S$299 million or 73.8 per cent from the corresponding year-ago period.