Air India lost a massive ₹10,800 crore in just six months, and since Singapore Airlines owns 25.1% of it, they took a big hit too.
Their share in Air India's losses reached S$361.7 million this year, which knocked down the value of their investment by 29.5%.
Singapore Airlines profit down 43.9%
Even though Singapore Airlines pulled in S$11.297 billion in revenue, soaring jet fuel prices (thanks to Middle Eastern tensions) slashed their net profit by 43.9%.
Still, things could've been worse: slightly smaller losses from Air India actually helped bump up their profits last quarter.