business
Singapore Airlines sticking with Air India for the "long game" despite losses
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- Singapore Airlines has seen Air India drag on its earnings for about five quarters, but analysts and the airline say the investment will pay off in the long term.
- However, net profit plunged 57.4% year-on-year to SG$1.18 billion— mainly owing to Air India's losses and an accounting gain in the previous year.
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Singapore Airlines has seen Air India drag on its earnings for about five quarters, but analysts and the airline say the investment will pay off in the long term.
SIA reported on Thursday a record revenue of 20.5 billion Singapore dollars ($16.06 billion) for its financial year ended March 31, as operating profit surged 39% to SG$2.38 billion on higher demand, higher yields and lower full year net fuel cost, SIA said.
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