KUALA LUMPUR: Singapore Airlines (SIA) Group's net profit fell 43.9 per cent to RM425.6 million (S$134 million) in the first half of its financial year 2026/27 ended Sept 30, 2026, despite revenue climbing 16.8 per cent to a record RM35.9 billion (S$11.30 billion).

SIA Group said passenger demand remained healthy but elevated jet fuel prices due to the ongoing conflict in the Middle East continued to put pressure on operating costs, despite adjustments to airfares and cargo rates.

"While the group has adjusted air fares and cargo rates, these measures do not fully offset the impact of sustained high fuel prices," it said in a statement on Wednesday.

The group, which comprises full-service carrier Singapore Airlines and its low-cost subsidiary Scoot, recorded a 20.9 per cent increase in total expenditure to RM34 billion (S$10.73 billion) from RM28.2 billion (S$8.87 billion) a year earlier.