Singapore Airlines posted a 58.8% fall in first-quarter net profit on Monday, pressured by losses in associated companies, including Air India, and lower cash balances. The city-state's flag carrier recorded a S$122 million hit from associated companies — posting losses compared with profit a year earlier,

Singapore Airlines reported a 59% profit drop in its first quarter, weighed by lower passenger yields and higher expenses from inflationary pressures. The city-state’s flag carrier said Monday that net profit for the three months ended June was 186.