Singapore Airlines' second-quarter earnings plunged 82%, as losses from Air India and "associated companies" reached $295 million from July to September of 2025. The company also posted a record-setting second-quarter revenue (+2.2%) and announced a special dividend package for shareholders. Company's shares slipped 3% Friday before paring losses by mid-day.

Marina Bay

Singapore Airlines has reported an 82 percent decline in its second quarter earnings, attributing the drop primarily to losses from associated companies, notably Air India. The airline's inclusion of Air India's financials followed the completion of a merger between Vistara and Air India, which gave Singapore Airlines a 25.1 percent stake in the Indian carrier.

Despite the losses, Singapore Airlines achieved a record operating revenue of $4.8 billion, with strong demand and high passenger load factors. However, passenger yield and cargo revenue have declined, and analysts predict that Air India's financial drag on Singapore Airlines could persist into the following year.

Singapore Airlines' earnings take another hit from Air India losses

Second quarter earnings for Singapore Airlines. Many analysts expecting to see a hit caused by Air India but not to the extent that we saw come in last night. So we saw earnings dropping about 82 percent as we see those losses from quote-unquote associated companies i.e. Air India stacking up. We can add in Q1, Q2 for a total for the first half of the year seeing those losses about 417 million dollars. Of course Singapore Airlines newly now adding in Air India financials to its accounting after that started in December of last year following the merger between Bastara and Air India that was completed in November. That gave Singapore Airlines a 25.1 percent stake in Air India. Now as to the underlying fundamentals for Singapore Airlines well those looking mostly solid. We see operating revenue which is a better gauge of the core operations for an airline up 22 percent. In fact it was it was a record-breaking quarter for Singapore Airlines in terms of revenue. That's about 4.8 billion dollars. Demand is strong. Traffic is up and passenger load factors around 88 percent. But we see some softening in two important places. One that ever-important passenger yield metric. We see that declining as well as cargo revenue. Now when the Singapore market opened this morning we saw an immediate sell-off not too much from this news. However nothing Amitosh interestingly that we saw from the Q1 results which was the first time that we saw those Air India results really take a hit. So it seems like the market is now getting used to the idea that Air India may be pulling down some of the bottom line numbers for Singapore Airlines for the time being. All right. I want to ask you about that. For how long will that actually go on. And was that factored in by Singapore Airlines when it partnered with Air India. And also as we understand it as we speak right now there is a statement of sorts being given out by you know Singapore Airlines. Bit of an explanation of what's really going on. I know that we're going to wait to hear about that. But can you tell us how long will this Air India drag be on. There's a briefing going on right now and we will be watching that and bringing bringing more on that as we learn about it. But I don't think anybody thought Air India would be an immediate cash cow. It is of course in a multi-year transformation period. However to the extent that the losses that were expected by Singapore Airlines that's unknown. But certainly the street wasn't expecting the losses to this level. Now we hear DBS. I spoke with some analysts this morning. DBS saying now it's likely that this will be a drag on Singapore Airlines well into next year. Morningstar saying they wish they could have a bit more information and maybe that is coming in the briefing such as what is the underlying reason for these losses. Are they ramp up. If so possibly that's OK. We do see though Singapore Airlines renewing its commitment to Air India saying look this is part of a longer term strategy. This is we are fully committed to remaining on board for this transformation process. But one big question that we will see perhaps in the coming future will be whether or not we see more capital being put into Air India. It's been reported that Air India has asked for about one point one billion dollars from its two owners. That's Tata Sons and S.A.A.

U.S. President Donald Trump is ducking press questions about newly released emails connecting him to convicted sex offender Jeffrey Epstein’s criminal activities ahead of an expected vote on releasing all Epstein case files by the U.S. House of Representatives as early as next week.

Washington

Trump avoids media’s Epstein email questions

The U.S. government lumbered back to life on Thursday (November 13) after the longest shutdown in U.S. history snarled air traffic, cut food assistance to low-income Americans and forced more than 1 million workers to go unpaid for more than a month. But the deep political divisions that caused the 43-day shutdown in the first place remain unresolved.

U.S. government opens up again but deep political divisions remain

China's factory output and retail sales grew at their weakest pace in over a year in October, piling pressure on policymakers to revamp the $19 trillion export-driven economy as mounting supply and demand strains threaten to further curtail growth.

Beijing

China's factory output, retail sales growth worst in over a year

Germany's government plans to bring back military service, to boost troop numbers to deal with the perceived threat from Russia. But voluntary conscription could become compulsory, if not enough recruits come forward.

Berlin

Germany outlines potential shift to compulsory conscription

As F-35 stealth fighter jets fly missions from a reopened naval base in Puerto Rico and Marines practice beach landings, sources tell CBS News the Pentagon is preparing for possible military action in Venezuela. Charlie D'Agata reports.

Pentagon preparing for possible military action in Venezuela

President Trump's name appears hundreds of times in the newly-released batch of 23,000 pages of records and messages from convicted sex offender Jeffrey Epstein, raising questions about their relationship. Mr. Trump has repeatedly denied any wrongdoing and has called the scandal a "hoax" perpetrated by Democrats.

Trump named hundreds of times in newly released Epstein files

A federal judge has ruled that hundreds of people detained by Immigration and Customs Enforcement during "Operation Midway Blitz" in the Chicago area must be released. CBS News immigration and politics reporter Camilo Montoya-Galvez has more.

Chicago

Judge finds ICE illegally arrested hundreds of people in Chicago

For the first time in six weeks, the U.S. government is open. President Trump signed a bill last night to fund the government through the end of January.

Trump says he is 'willing to work with anyone' on health care

U.S. forces have killed four people in the latest strike on an alleged drug boat in the Caribbean. CBS News national security coordinating producer James LaPorta has more.

Caracas

U.S. forces kill four in latest Caribbean drug boat strike

Israeli settlers set fire to a mosque in the West Bank on Thursday (November 13) and sprayed racist slogans on its walls, Palestinian residents said.

Jerusalem

Middle East Conflict

Israeli settlers torch mosque in West Bank, residents say

Thailand-Cambodia border tensions escalate days after a US-backed ceasefire agreement breaks down.

Bangkok

Thailand-Cambodia tensions escalate as truce hangs in the balance

A bipartisan group of lawmakers is one step closer to the full release of the Justice Department's documents on Jeffrey Epstein after securing the final signature needed to force a House vote. Scott MacFarlane reports.

House to vote on Epstein files release after bipartisan group push

With the Amazon nearing a tipping point, Indigenous voices are demanding immediate action at COP30, with campaigners saying their protests are a stark reminder that time is running out to stop catastrophic climate change.

Belém

Indigenous voices demand action at COP30 amid Amazon crisis

The U.S. government's longest standoff left both parties facing heavy criticism, and neither is likely to claim victory. Millions of Americans felt the impact, from hundreds of thousands of unpaid federal workers to families left without food stamps.

Trump signs deal to end record 43-day U.S. shutdown

Venezuela is preparing a 'massive mobilization' of its military as the U.S.’s largest warship arrives in the Caribbean Sea after U.S. President Donald Trump ordered a military buildup in the region.

Venezuela readying military as U.S.’s largest warship arrives

After 43 days, Congress passes a bill to reopen the U.S. government—Trump to sign spending legislation into law.

Washington County

U.S. House votes to re-open government, Trump to sign bill

Linda Sun faces trial – Prosecutors allege she secretly advanced China’s interests while serving in New York government.

New York

Ex-aide to NY governor accused of being China agent

The House passed a funding bill to end the government shutdown on Wednesday night, sending the measure to President Trump's desk for final signature.

House passes bill to fund government and end U.S. shutdown

Canada’s Foreign Minister Anita Anand met with U.S. Secretary of State Marco Rubio during the G7 summit to discuss defense, trade, and global security cooperation amid growing geopolitical tensions.

Kananaskis

Canada meets with U.S. counterpart Rubio at G7 summit

Venezuela has announced a "massive mobilization" of its military forces, as the U.S. continues its military buildup in the Caribbean. The announcement comes in the wake of U.S. strikes that have targeted at least 20 vessels in the waters around Latin America, killing dozens of people.

Venezuela mobilizing military as U.S. builds up military presence

The House of Representatives is preparing to vote on a long-awaited bill to end the government shutdown. CBS News congressional reporter Taurean Small has more from Capitol Hill.

House of Representatives ready vote on ending government shutdown

Warning: Some details are disturbing. An Army OB-GYN in Texas is accused of years of sexual assault and abuse of women on multiple bases, according to a recent lawsuit.

Killeen

Army gynecologist accused of secretly taking videos during exams

U.S. House Democrats on Wednesday released emails from Jeffrey Epstein referencing President Donald Trump, who has denied any knowledge of the convicted sex offender's crimes. In a 2019 email, Epstein said Trump "knew about the girls as he asked Ghislaine to stop."

New emails from Epstein mentioning Trump released by House Democrats

Cleveland Guardians pitcher Luis Ortiz was arraigned on Wednesday and pleaded not guilty to allegations of taking bribes to rig pitches. CBS News' Shanelle Kaul reports.

Brooklyn

Guardians pitcher Luis Ortiz arraigned, pleads not guilty

UK Prime Minister Keir Starmer backed the BBC while urging it to correct errors after U.S. President Donald Trump threatened a $1 billion lawsuit over a misleading edit of his Jan. 6, 2021 speech. The controversy led to the resignations of the BBC director general and head of news.

London

UK PM Keir Starmer backs BBC amid Trump threat

The U.S. House of Representatives will vote Wednesday on a spending bill that passed in the Senate earlier this week and could bring the longest government shutdown to an end.

House to vote on funding bill that could reopen government

The USS Gerald Ford aircraft carrier strike group has moved into the Latin America region, U.S. officials say, dramatically escalating a military buildup that has deepened tensions with Venezuela.

Largest U.S. aircraft carrier sailing to Latin America region

U.S. President Donald Trump sent a letter to Israeli President Isaac Herzog urging him to pardon Prime Minister Benjamin Netanyahu. CBS News' Courtney Kealy has more.

Tel Aviv-Yafo

Trump urges Israel's president to pardon Benjamin Netanyahu

Three astronauts remain stuck in space after their return capsule was damaged by orbital debris—delaying their journey home.

Three Chinese astronauts stranded in space after capsule damage

The former first lady of Gabon and her son were being tried in absentia on various corruption charges.

Breakdown