Singapore, Jan 12, 2026, 15:47 SGT — Regular session.
- Shares of Singapore Airlines stayed mostly unchanged during afternoon trading.
- Oil prices crept up amid new supply-risk concerns.
- Investors are eyeing the group’s next business update, set for later this quarter.
Shares of Singapore Airlines Ltd slipped around 0.2% to S$6.42 in Monday afternoon trading, underperforming the stronger overall market as oil prices inched higher. 1
This matters because jet fuel makes up a huge chunk of airline costs. Even minor shifts in crude prices can quickly reshape margin forecasts, particularly as companies prepare to report on demand after the holidays.
Brent crude edged up 5 cents to $63.39 a barrel, lifted by headlines from Iran that injected fresh risk premiums into the market. Still, expectations of Venezuelan exports kept a lid on further gains. “The market is saying show me the disruption to supply before materially responding,” Saul Kavonic, head of energy research at MST Marquee, told Reuters. 2
Goldman Sachs expects oil prices to ease in 2026 amid rising supply, though geopolitical tensions will keep volatility elevated. This dynamic could work for or against airlines, depending on the pace at which fuel costs pass through. 3
Singapore Airlines investors have been balancing weaker pricing power with the fact that planes remain busy. The carrier reported a steep drop in first-half profits this November, dragged down by rising costs, tougher competition, and losses from Air India, where it holds a 25.1% stake. 4
The next major event is coming up: the group will release its third-quarter business update on Feb. 24, according to the company’s investor relations page. 5
Traders are also eyeing the upcoming batch of monthly operating stats; the investor page shows FY2025/26 figures up to November. 6
But there’s a catch. Should unrest in Iran or other supply shocks escalate into actual disruptions, crude prices could surge and quickly force airlines to rethink their cost forecasts—even as they continue to cut fares to fill seats.
