Singapore Airlines FY2027 interim dividend: 7 cents a share

What was announced. On 11 November 2026 Singapore Airlines (SIA) published unaudited results for the six months to 30 September 2026. The board declared an interim ordinary dividend of 2 cents a share and an interim special dividend of 5 cents. Together that is 7 cents a share. It is paid on 11 December 2026 to shareholders on the register on 26 November 2026. All figures are in Singapore dollars.

Money and profit. Group revenue rose 16.8% to a record S$11,297 million. Expenditure rose 20.9% to S$10,728 million. Operating profit fell 29.1% to S$569 million. Net profit was S$133.9 million against S$238.5 million a year earlier, down 43.9%. Basic earnings per share were 4.3 cents against 7.9. For context, Reuters says the result beat the Visible Alpha analyst consensus of S$65.3 million.

Why profit fell. Fuel. Fuel cost before hedging rose 90.3% to S$4,705 million. Average jet fuel for the six months was US$171 a barrel, 86.7% higher than a year ago. The company links this to the conflict in the Middle East. Hedging (prices fixed in advance) produced a gain of S$731 million, so net fuel cost rose 56.0% to S$3,974 million.

What pulled the other way. A half-year record of 21.8 million passengers, up 5.0%. Passenger yield rose 12.1% and cargo revenue rose 30.2% to S$1,394 million. The second quarter was stronger: operating profit of S$463 million (up 16.3%) and net profit of S$210 million against S$52 million. The share of losses from associated companies, mainly Air India, narrowed. Reuters puts the Air India share at S$361.7 million against S$429.5 million a year earlier.

On the dividend. In November 2025 the company announced a plan for special dividends of 10 cents a share a year over three financial years, FY2025/26 to FY2027/28. That is about S$900 million in total. The 5-cent special dividend now declared is for FY2026/27.

What the company says. Passenger demand remains healthy and cargo demand is firm. It raised fares and cargo rates, but these do not fully offset the costlier fuel. An extended conflict, it says, could spill over into the wider economy and hit demand.

Limits. The results are unaudited. This is a half-year report, not a full-year forecast: we found no numeric full-year guidance in the release. The final dividend for the year has not been declared.

Confirmed facts

• On 11 November 2026 SIA Group published unaudited results for the half-year ended 30 September 2026.^[1][2][3]
• Half-year revenue was a record S$11,297 million, up 16.8% from a year earlier.^[1][2][3]
• Net profit was S$133.9 million against S$238.5 million, down 43.9%. Operating profit was S$569 million, down 29.1%.^[1]
• In the second quarter, net profit was S$210 million against S$52 million a year earlier, and operating profit was S$463 million (up 16.3%).^[1][3]
• Fuel cost before hedging rose 90.3% to S$4,705 million. The hedging gain was S$731 million. Net fuel cost was S$3,974 million, up 56.0%.^[1]
• Average jet fuel for the half-year was US$171 a barrel, 86.7% higher than a year earlier. The company links the rise to the conflict in the Middle East.^[1][2]
• The board declared an interim ordinary dividend of 2 cents and an interim special dividend of 5 cents a share, 7 cents in total. Payment is on 11 December 2026 to shareholders on the register on 26 November 2026.^[1][3]
• In November 2025 the company announced a plan for special dividends of 10 cents a share a year for FY2025/26 to FY2027/28, about S$900 million in all.^[1]
• Basic earnings per share for the half-year were 4.3 cents against 7.9 cents a year earlier.^[1]
• The result beat the Visible Alpha consensus estimate of S$65.3 million.^[2]
• SIA and Scoot carried a half-year record of 21.8 million passengers, up 5.0%. Cargo revenue rose 30.2% to S$1,394 million.^[1]
• The share of losses from Air India for the half-year narrowed to S$361.7 million from S$429.5 million.^[2]
• The company raised fares and cargo rates, but these do not fully offset sustained high fuel prices.^[1][3]

Implications

• ConfirmedFuel was the main drag on profit, and the hedging gain softened the blow.
• Our readingThe 7-cent dividend is larger than first-half earnings per share (4.3 cents). This is our comparison of two figures from the release.
• ConfirmedThe company itself warns that an extended conflict could add inflationary cost pressure and weigh on passenger and cargo demand.

Still unknown

• Where jet fuel prices go over the rest of the year, and what that does to profit.
• What the total dividend for the full FY2026/27 will be: it has not been declared.
• When Air India turns profitable: the company says only that the transformation will take time.

Who it affects

Singapore, Asia-Pacific, Global. Shareholders and people who follow airlines, plus travellers and companies affected by ticket prices and air cargo rates

Sources

1. Singapore Airlines: SIA Group posts record half-year revenue of $11.3b with net profit at $134m as jet fuel prices remain elevated November 11, 2026 · official
2. Reuters: Singapore Airlines half-year profit beats estimates as record revenue cushions fuel cost surge November 11, 2026 · media
3. The Straits Times: SIA's first-half profit falls 43.9% as fuel costs bite November 11, 2026 · media