SINGAPORE AIRLINES INTERIM RESULTS
Air India losses narrow, but Singapore Airlines’ profit falls 44% as fuel costs rise
In its latest financial report, Singapore Airlines announced a net profit of S$134 million for the first half, down from S$239 million in the same period last year. The airline faced a more than 20% rise in expenses, driven by higher jet fuel prices that reached US$171 per barrel, marking an 86.7% increase. Nevertheless, revenue saw a boost of 16.8% to S$11.
MRF shares fall after heavy raw material costs push Q2 profit down. Why Motilal Oswal screams Sell
MRF reported a 27% YoY decline in Q2 consolidated net profit to Rs 387 crore, as a 43% surge in raw material costs offset 17% revenue growth to Rs 8,660 crore. Motilal Oswal maintained its ‘Sell’ rating with a target price of Rs 1.05 lakh, citing margin pressure, rising input costs and demand concerns.
IndiGo extends Saudi Arabia flight suspensions to Jeddah, Madinah, Riyadh and Dammam until Nov 21
IndiGo has extended the suspension of flights to four Saudi Arabian cities amid continuing safety and security concerns. Services to Jeddah and Madinah will remain suspended until November 21, 2026, while flights to Riyadh and Dammam will remain cancelled until November 30, 2026. The airline said affected passengers are being informed about alternative travel arrangements, refunds and ticket re-accommodation.
91% of Mumbai airport's international traffic to remain unaffected by Terminal 1 redevelopment
Mumbai's Terminal 1 redevelopment will leave around 91% of international passenger traffic unaffected, with 39 of 50 international airlines continuing operations at CSMIA. Eleven carriers may shift select services to Navi Mumbai International Airport from March 2027, as the revamp aims to address structural concerns and raise Terminal 1's annual passenger-handling capacity by 33% to 20 million by March 2029.
In a first since Covid, Diwali flight numbers fall as high fares, disruptions take a toll
Airlines scheduled about 6% fewer flights across October and November than a year earlier, according to data from aviation analytics firm Cirium. That marks the first capacity decline since 2020, when carriers slashed service capacity by nearly 45% amid the pandemic-induced collapse in travel demand.
Cochin Shipyard net profit falls 50% to Rs 54 crore in Q2
Cochin Shipyard Ltd reported a 50% decline in consolidated net profit for the September quarter of FY27. The company's net profit fell to Rs 53.77 crore compared to Rs 107.52 crore a year earlier. However, total income increased to Rs 1,331.81 crore from Rs 1,245.88 crore during the same period. Total expenses also rose to Rs 1,256.71 crore compared to Rs 1,095.97 crore previously.
Air India shortlists former Singapore Airlines executive Balagopal Kunduvara for CFO role
Air India has shortlisted former Singapore Airlines executive Balagopal Kunduvara for the CFO role as the airline steps up efforts to cut costs and improve financial performance. Kunduvara, who recently left his position as finance chief at Garuda Indonesia, has over two decades of experience at Singapore Airlines. The carrier reported losses of more than Rs 22,000 crore in the last financial year.
Dividend alert! MRF announces Rs 3/share interim dividend. Check record date
MRF announced an interim dividend of Rs 3 per share alongside its Q2FY27 results, with November 17 set as the record date. The tyre-maker reported a 13% YoY decline in consolidated net profit to Rs 417 crore.
Dubai changes visa rules in 2026, expands visa-on-arrival access and relaxes property visa criteria
Dubai has introduced several visa changes in 2026 that could affect Indian travellers, property owners, foreign professionals and long-term residents. The UAE has introduced new specialist visit visa categories and linked Dubai residence visa transactions with outstanding traffic fines. The proposed GCC unified tourist visa is also awaiting implementation.
Singapore to launch gold vaulting service for foreign central banks, ease taxes to boost bullion trad
Singapore's central bank will introduce a gold vaulting service for foreign central banks and financial institutions. This initiative aims to strengthen Singapore's position as a global trading hub for precious metals. Alongside the vaulting service, new tax incentives for companies in the bullion market will be implemented next year. The Monetary Authority of Singapore is also preparing an over-the-counter gold clearing system by 2027.
Air India considers departed Garuda CFO for top finance position
Most recently, Kunduvara was finance chief for Garuda Indonesia, a position he recently left after holding the job for little more than a year. Prior to that, he spent more than two decades at Singapore Airlines, which is a partial owner of Air India alongside conglomerate Tata Group.
Australia's Qantas Airways to cut 850 jobs as AI takes off, back-office work shifts to India
Australia's largest airline Qantas will cut 850 jobs from mid-2027 as it shifts some corporate functions to India and accelerates the adoption of artificial intelligence. A partnership with Accenture will overhaul its back-end systems, even as the airline embarks on the largest fleet renewal programme in its history.
Air India starts using Iraq airspace for New York, Newark direct flights; likely to see 10% fuel savings
Air India has resumed non-stop flights to New York and Newark using Iraqi airspace, cutting journey times by around four hours to 16 hours and saving nearly 10% in fuel costs. The revised routes also offer greater flexibility in crew deployment and help ease the impact of prolonged airspace restrictions.
American midterm results will not have an impact on India-US interim trade deal: Sources
The Democrats' sweeping victory in the US midterm elections is unlikely to affect the India-US interim trade agreement, as the pact does not require formal Congressional ratification, sources said. However, ongoing Section 301 investigations into forced labour and excess industrial capacity could influence Washington's tariff structure and the finalisation of the agreement.
DBS Group Q3 net profit falls 5% to S$2.81 billion, misses estimates
DBS Group reported a 5% year-on-year decline in third-quarter net profit to S$2.81 billion, missing analyst estimates due to weaker market trading income. The bank also announced dividends and a leadership transition, with Anthony Lim set to become chairman in January 2027.
M K Sons Fine Jewels lists at 5.5% premium to offer price
Shares of M K Sons Fine Jewels were listed at ₹171 on the NSE on Wednesday. Shares were listed at a premium of 5.56% over the issue price of ₹162 per share. The stock closed at ₹162.20 per shares on Wednesday. The market capitalisation of the company stood at ₹913 crore.
SpiceJet’s meltdown: Rs 5,500 crore raised, but where did the money go?
SpiceJet's mounting financial crisis raises serious questions over the fate of more than Rs 5,500 crore raised in recent years, its unpaid dues, operational collapse and regulatory oversight. Despite repeated capital infusions, the airline faces mounting losses and possible bankruptcy, while questions persist over fund utilisation, management accountability and aviation safety.
Singapore Airlines says 46,000 booking records affected by Amadeus breach
Singapore Airlines said on Tuesday that about 46,000 booking records may have been affected by a cybersecurity incident involving Amadeus, its reservation technology
Cancelled flight ticket? GSTAT says airlines can refund GST to passengers and claim it back from the government
Taxpayer wins GST refund denial case after depositing GST on airline ticket with the govt and later refunding the GST back to passengers due to cancelled ticket; GSTAT orders GST department to issue GST refund with interest to taxpayer
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