Singapore Airlines CEO Goh Choon Phong said Air India’s surging losses have dragged Singapore Airlines’ annual profit down 57%, citing a chain reaction of geopolitical disruptions, Pakistani airspace restrictions, and currency volatility. He pointed to cost inflation and longer, fuel-intensive routes on North America services, plus elevated West Asia-linked fuel prices, delivery delays, and supply-chain setbacks. Air India losses more than doubled to ₹25,606 crore in FY26, with added FX and labor compliance pressures.
Indian exporters are outperforming, but the cash from those wins is arriving late. Extended transit and receivable cycles, worsened by currency volatility, are pressuring working capital. Even with policy interventions, a sizable credit gap remains, limiting firms’ ability to fund longer trade cycles—raising the risk that competitiveness erodes despite strong export momentum.
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