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Air India’s part-owner Singapore Airlines took a hit in its latest financial results, with profit well down from a year ago.

Singapore Airlines’ first quarter results released today showed net profit down almost 60% year-on-year to SG$186 million ($242m).

Singapore’s flag carrier is a close ally of Air New Zealand and also owns 25.1% of Air India.

Air India registered a major financial loss, even for the period preceding the fatal June 12 plane crash in Ahmedabad.

The Singapore Airlines Group’s total revenue was up 1.5% on a year earlier.

It said the flag carrier and its budget carrier Scoot both achieved record passenger numbers in the first quarter of 2025/26.

The group said it carried 10.3 million passengers, up 6.9% from the same quarter last year.

“Despite economic and geopolitical uncertainties across the network, demand for air travel and cargo remained strong,” the group said.

It said the fall in net profit was largely attributable to a lower interest income and losses at associated companies, especially from Air India.

The Indian airline’s financial results were not part of the Singapore group’s results for the same quarter last year.

Indian conglomerate Tata Group owns 74.9% of Air India.

Earlier this month, Tata Group said Air India registered an annual loss of Rs108.59 billion ($2.09b) in the year to the end of March 2025.

According to CNBC, Tata Group’s annual report represented Air India’s first financial statement as a unified entity.

That followed the merger of Air India, Air India Express, Vistara and AirAsia India.

Air India’s chief executive is New Zealander Campbell Wilson.

Singapore Airlines in June told the Herald it would bring the giant Airbus A380 to Auckland next summer.

The A380 is the world’s biggest commercial passenger aircraft and the only full-length, double-deck jetliner.

Singapore Airlines and Air New Zealand currently operate 21 weekly services between Auckland and Singapore.

One-third of those are in Singapore’s Airbus A350-900 twinjet and the rest are on Air New Zealand’s Boeing 777-300ER twinjets.

Singapore Airlines also operates seven weekly services from Christchurch to Singapore, on A350s.

John Weekes is a business journalist mostly covering aviation and court. He has previously covered consumer affairs, crime, scammers, politics and court.