Annual report
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Group | 2025Group | Source |
|---|---|---|---|
| Income statement | |||
| REVENUE$ million | 20,522.0 | 19,539.8 | PDF p. 119 |
| Expenditure | |||
| Staff costs$ million | 3,927.5 | 3,764.5 | PDF p. 119 |
| Fuel costs$ million | 5,024.9 | 5,385.5 | PDF p. 119 |
| Depreciation$ million | 2,465.6 | 2,308.2 | PDF p. 119 |
| Amortisation of intangible assets$ million | 75.8 | 72.8 | PDF p. 119 |
| Aircraft maintenance and overhaul costs$ million | 827.1 | 643.5 | PDF p. 119 |
| Commission and incentives$ million | 504.2 | 505.1 | PDF p. 119 |
| Landing, parking and overflying charges$ million | 990.3 | 909.1 | PDF p. 119 |
| Handling charges$ million | 1,519.4 | 1,390.4 | PDF p. 119 |
| Emission charges$ million | 64.5 | 45.3 | PDF p. 119 |
| Rentals on leased aircraft and engines$ million | 4.8 | 2.0 | PDF p. 119 |
| Inflight meals$ million | 778.8 | 741.5 | PDF p. 119 |
| Advertising and sales costs$ million | 333.0 | 325.4 | PDF p. 119 |
| Company accommodation and utilities$ million | 51.9 | 50.7 | PDF p. 119 |
| Other passenger costs$ million | 245.6 | 240.6 | PDF p. 119 |
| Crew expenses$ million | 173.5 | 164.3 | PDF p. 119 |
| Other operating expenses$ million | 1,160.6 | 1,281.8 | PDF p. 119 |
| Expenditure subtotal | |||
| Subtotal$ million | 18,147.5 | 17,830.7 | PDF p. 119 |
| Income statement | |||
| OPERATING PROFIT$ million | 2,374.5 | 1,709.1 | PDF p. 119 |
| Finance charges$ million | (334.5) | (395.5) | PDF p. 119 |
| Interest income$ million | 289.4 | 492.0 | PDF p. 119 |
| Loss on disposal of aircraft, spares and spare engines$ million | (3.7) | (13.6) | PDF p. 119 |
| Dividends from long-term investments$ million | 0.1 | 2.1 | PDF p. 119 |
| Gain on disposal of an associated company$ million | – | 1,097.9 | PDF p. 119 |
| Other non-operating items$ million | 84.1 | 15.6 | PDF p. 119 |
| Share of profits of joint venture companies$ million | 36.1 | 40.1 | PDF p. 119 |
| Share of (losses)/profits of associated companies$ million | (828.5) | 17.1 | PDF p. 119 |
| PROFIT BEFORE TAXATION$ million | 1,617.5 | 2,964.8 | PDF p. 119 |
| TAXATION$ million | (394.5) | (152.6) | PDF p. 119 |
| PROFIT FOR THE FINANCIAL YEAR$ million | 1,223.0 | 2,812.2 | PDF p. 119 |
| Profit attributable to | |||
| OWNERS OF THE COMPANY$ million | 1,184.0 | 2,778.0 | PDF p. 119 |
| NON-CONTROLLING INTERESTS$ million | 39.0 | 34.2 | PDF p. 119 |
| Profit attributable subtotal | |||
| Subtotal$ million | 1,223.0 | 2,812.2 | PDF p. 119 |
| Per-share measures | |||
| EARNINGS PER SHARE (CENTS)cents per share | 38.4 | 89.3 | PDF p. 119 |
| DILUTED EARNINGS PER SHARE (CENTS)cents per share | 38.2 | 85.3 | PDF p. 119 |
Original report: PDF p. 119 ↗
For the Financial Year Ended 31 March 2026 (in $ million). The Group columns are FY2025/26 and FY2024/25. The accompanying accounting policies and explanatory notes form an integral part of the financial statements.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Group | 2025Group | Source |
|---|---|---|---|
| Comprehensive income | |||
| PROFIT FOR THE FINANCIAL YEAR$ million | 1,223.0 | 2,812.2 | PDF p. 120 |
| Other comprehensive income: Items that are or may be reclassified subsequently to profit or loss | |||
| Currency translation differences$ million | (28.5) | (4.9) | PDF p. 120 |
| Net fair value changes on cash flow hedges$ million | 715.6 | (294.5) | PDF p. 120 |
| Share of other comprehensive income of associated and joint venture companies$ million | 52.1 | (1.7) | PDF p. 120 |
| Realisation of reserves upon liquidation of a subsidiary company$ million | 1.9 | – | PDF p. 120 |
| Other comprehensive income: Items that will not be reclassified subsequently to profit or loss | |||
| Actuarial gain on revaluation of defined benefit plans$ million | 0.2 | 12.0 | PDF p. 120 |
| Share of gain on property revaluation of an associated company$ million | 6.2 | 11.4 | PDF p. 120 |
| Comprehensive income | |||
| OTHER COMPREHENSIVE INCOME FOR THE FINANCIAL YEAR, NET OF TAX$ million | 747.5 | (277.7) | PDF p. 120 |
| TOTAL COMPREHENSIVE INCOME FOR THE FINANCIAL YEAR$ million | 1,970.5 | 2,534.5 | PDF p. 120 |
| Total comprehensive income attributable to | |||
| OWNERS OF THE COMPANY$ million | 1,937.9 | 2,501.5 | PDF p. 120 |
| NON-CONTROLLING INTERESTS$ million | 32.6 | 33.0 | PDF p. 120 |
| Total comprehensive income attributable subtotal | |||
| Subtotal$ million | 1,970.5 | 2,534.5 | PDF p. 120 |
Original report: PDF p. 120 ↗
For the Financial Year Ended 31 March 2026 (in $ million). Other comprehensive income rows are presented under the two reclassification categories shown. The accompanying accounting policies and explanatory notes form an integral part of the financial statements.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Group | 2025Group | Source |
|---|---|---|---|
| Equity attributable to owners of the Company | |||
| Share capital$ million | 8,096.9 | 7,180.9 | PDF p. 121 |
| Treasury shares$ million | (37.1) | (26.5) | PDF p. 121 |
| Other reserves$ million | 9,201.9 | 8,501.8 | PDF p. 121 |
| Equity attributable to owners subtotal | |||
| Subtotal$ million | 17,261.7 | 15,656.2 | PDF p. 121 |
| Equity | |||
| NON-CONTROLLING INTERESTS$ million | 424.3 | 413.8 | PDF p. 121 |
| TOTAL EQUITY$ million | 17,686.0 | 16,070.0 | PDF p. 121 |
| Liabilities | |||
| DEFERRED ACCOUNT$ million | 113.3 | 74.3 | PDF p. 121 |
| DEFERRED TAXATION$ million | 2,452.0 | 1,884.5 | PDF p. 121 |
| LONG-TERM LEASE LIABILITIES$ million | 2,530.9 | 2,866.7 | PDF p. 121 |
| BORROWINGS$ million | 5,710.2 | 7,297.3 | PDF p. 121 |
| OTHER LONG-TERM LIABILITIES$ million | 188.0 | 137.6 | PDF p. 121 |
| PROVISIONS$ million | 786.2 | 743.2 | PDF p. 121 |
| DEFINED BENEFIT PLANS$ million | 56.0 | 58.1 | PDF p. 121 |
| Liabilities subtotal | |||
| Subtotal$ million | 29,522.6 | 29,131.7 | PDF p. 121 |
| Assets | |||
| PROPERTY, PLANT AND EQUIPMENT$ million | 24,095.6 | 23,480.9 | PDF p. 121 |
| RIGHT-OF-USE ASSETS$ million | 2,805.9 | 3,087.4 | PDF p. 121 |
| INTANGIBLE ASSETS$ million | 385.4 | 338.6 | PDF p. 121 |
| SUBSIDIARY COMPANIES$ million | – | – | PDF p. 121 |
| ASSOCIATED COMPANIES$ million | 2,018.8 | 2,865.2 | PDF p. 121 |
| JOINT VENTURE COMPANIES$ million | 358.5 | 334.4 | PDF p. 121 |
| LONG-TERM INVESTMENTS$ million | 39.6 | 39.5 | PDF p. 121 |
| OTHER LONG-TERM ASSETS$ million | 267.9 | 1,544.8 | PDF p. 121 |
| Current assets | |||
| Derivative assets$ million | 830.6 | 106.1 | PDF p. 121 |
| Inventories$ million | 356.1 | 344.9 | PDF p. 121 |
| Trade debtors$ million | 1,648.7 | 1,229.9 | PDF p. 121 |
| Amounts owing by subsidiary companies$ million | – | – | PDF p. 121 |
| Deposits and other debtors$ million | 242.1 | 272.6 | PDF p. 121 |
| Prepayments$ million | 102.1 | 109.9 | PDF p. 121 |
| Other short-term assets$ million | 1,729.6 | 536.5 | PDF p. 121 |
| Investments$ million | 578.3 | 519.7 | PDF p. 121 |
| Restricted cash balances$ million | 22.3 | 19.2 | PDF p. 121 |
| Cash and bank balances$ million | 7,931.2 | 8,257.1 | PDF p. 121 |
| Assets held for sale$ million | – | 0.1 | PDF p. 121 |
| Current assets subtotal | |||
| Subtotal$ million | 13,441.0 | 11,396.0 | PDF p. 121 |
| Current liabilities | |||
| Borrowings$ million | 1,956.5 | 2,213.4 | PDF p. 121 |
| Lease liabilities$ million | 447.1 | 536.9 | PDF p. 121 |
| Current tax payable$ million | 43.5 | 72.5 | PDF p. 121 |
| Trade and other creditors$ million | 4,584.6 | 4,628.4 | PDF p. 121 |
| Amounts owing to subsidiary companies$ million | – | – | PDF p. 121 |
| Sales in advance of carriage$ million | 4,903.1 | 4,533.2 | PDF p. 121 |
| Deferred revenue$ million | 1,415.3 | 1,260.6 | PDF p. 121 |
| Deferred account$ million | 16.3 | 13.2 | PDF p. 121 |
| Derivative liabilities$ million | 60.6 | 91.0 | PDF p. 121 |
| Provisions$ million | 463.1 | 605.9 | PDF p. 121 |
| Current liabilities subtotal | |||
| Subtotal$ million | 13,890.1 | 13,955.1 | PDF p. 121 |
| Balance sheet | |||
| NET CURRENT LIABILITIES$ million | (449.1) | (2,559.1) | PDF p. 121 |
| Balance sheet total | |||
| Subtotal$ million | 29,522.6 | 29,131.7 | PDF p. 121 |
Original report: PDF p. 121 ↗
As at 31 March 2026 (in $ million). Table columns print The Group (31 March 2026, 2025) followed by The Company (31 March 2026, 2025). This table contains both scopes; values above preserve only the two Group columns. The statement heading “Represented by:” precedes the assets. The accompanying accounting policies and explanatory notes form an integral part of the financial statements.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Company | 2025Company | Source |
|---|---|---|---|
| Equity attributable to owners of the Company | |||
| Share capital$ million | 8,096.9 | 7,180.9 | PDF p. 121 |
| Treasury shares$ million | (37.1) | (26.5) | PDF p. 121 |
| Other reserves$ million | 9,802.9 | 9,341.7 | PDF p. 121 |
| Equity attributable to owners subtotal | |||
| Subtotal$ million | 17,862.7 | 16,496.1 | PDF p. 121 |
| Equity | |||
| NON-CONTROLLING INTERESTS$ million | – | – | PDF p. 121 |
| TOTAL EQUITY$ million | 17,862.7 | 16,496.1 | PDF p. 121 |
| Liabilities | |||
| DEFERRED ACCOUNT$ million | 112.8 | 74.3 | PDF p. 121 |
| DEFERRED TAXATION$ million | 2,424.2 | 1,912.0 | PDF p. 121 |
| LONG-TERM LEASE LIABILITIES$ million | 1,540.7 | 1,827.8 | PDF p. 121 |
| BORROWINGS$ million | 5,648.5 | 7,187.1 | PDF p. 121 |
| OTHER LONG-TERM LIABILITIES$ million | 187.8 | 137.6 | PDF p. 121 |
| PROVISIONS$ million | 337.6 | 354.2 | PDF p. 121 |
| DEFINED BENEFIT PLANS$ million | 49.6 | 58.1 | PDF p. 121 |
| Liabilities subtotal | |||
| Subtotal$ million | 28,163.9 | 28,047.2 | PDF p. 121 |
| Assets | |||
| PROPERTY, PLANT AND EQUIPMENT$ million | 20,352.2 | 20,333.2 | PDF p. 121 |
| RIGHT-OF-USE ASSETS$ million | 1,683.5 | 1,936.1 | PDF p. 121 |
| INTANGIBLE ASSETS$ million | 308.6 | 275.4 | PDF p. 121 |
| SUBSIDIARY COMPANIES$ million | 5,481.0 | 5,702.0 | PDF p. 121 |
| ASSOCIATED COMPANIES$ million | 1,177.0 | 2,137.9 | PDF p. 121 |
| JOINT VENTURE COMPANIES$ million | 32.3 | 32.3 | PDF p. 121 |
| LONG-TERM INVESTMENTS$ million | 39.6 | 36.2 | PDF p. 121 |
| OTHER LONG-TERM ASSETS$ million | 227.7 | 1,486.6 | PDF p. 121 |
| Current assets | |||
| Derivative assets$ million | 830.6 | 105.9 | PDF p. 121 |
| Inventories$ million | 275.5 | 271.8 | PDF p. 121 |
| Trade debtors$ million | 1,379.3 | 1,020.5 | PDF p. 121 |
| Amounts owing by subsidiary companies$ million | 0.7 | 100.7 | PDF p. 121 |
| Deposits and other debtors$ million | 181.4 | 164.2 | PDF p. 121 |
| Prepayments$ million | 75.4 | 78.9 | PDF p. 121 |
| Other short-term assets$ million | 1,729.6 | 536.5 | PDF p. 121 |
| Investments$ million | 516.1 | 463.4 | PDF p. 121 |
| Restricted cash balances$ million | – | – | PDF p. 121 |
| Cash and bank balances$ million | 7,641.3 | 7,960.1 | PDF p. 121 |
| Assets held for sale$ million | – | 0.1 | PDF p. 121 |
| Current assets subtotal | |||
| Subtotal$ million | 12,629.9 | 10,702.1 | PDF p. 121 |
| Current liabilities | |||
| Borrowings$ million | 1,892.9 | 2,150.7 | PDF p. 121 |
| Lease liabilities$ million | 283.2 | 382.9 | PDF p. 121 |
| Current tax payable$ million | 21.6 | 43.5 | PDF p. 121 |
| Trade and other creditors$ million | 3,256.2 | 3,417.9 | PDF p. 121 |
| Amounts owing to subsidiary companies$ million | 1,965.0 | 2,703.0 | PDF p. 121 |
| Sales in advance of carriage$ million | 4,514.0 | 4,205.5 | PDF p. 121 |
| Deferred revenue$ million | 1,413.9 | 1,257.8 | PDF p. 121 |
| Deferred account$ million | 10.4 | 10.9 | PDF p. 121 |
| Derivative liabilities$ million | 59.8 | 91.0 | PDF p. 121 |
| Provisions$ million | 350.9 | 331.4 | PDF p. 121 |
| Current liabilities subtotal | |||
| Subtotal$ million | 13,767.9 | 14,594.6 | PDF p. 121 |
| Balance sheet | |||
| NET CURRENT LIABILITIES$ million | (1,138.0) | (3,892.5) | PDF p. 121 |
| Balance sheet total | |||
| Subtotal$ million | 28,163.9 | 28,047.2 | PDF p. 121 |
Original report: PDF p. 121 ↗
As at 31 March 2026 (in $ million). Table columns print The Group (31 March 2026, 2025) followed by The Company (31 March 2026, 2025). This table contains both scopes; values above preserve only the two Company columns. The accompanying accounting policies and explanatory notes form an integral part of the financial statements.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Group | 2025Group | Source |
|---|---|---|---|
| Cash flow from operating activities | |||
| Profit before taxation$ million | 1,617.5 | 2,964.8 | PDF p. 128 |
| Cash flow from operating activities; adjustments | |||
| Depreciation$ million | 2,465.6 | 2,308.2 | PDF p. 128 |
| Amortisation of intangible assets$ million | 75.8 | 72.8 | PDF p. 128 |
| Impairment/(Write-back of impairment) of trade debtors$ million | 4.8 | (4.7) | PDF p. 128 |
| Write-down of inventories$ million | 5.4 | 11.2 | PDF p. 128 |
| Income from short-term investments$ million | (1.6) | (1.6) | PDF p. 128 |
| Provisions$ million | 219.0 | 165.9 | PDF p. 128 |
| Share-based compensation expense$ million | 28.1 | 25.2 | PDF p. 128 |
| Exchange differences$ million | 40.3 | 56.8 | PDF p. 128 |
| (Gain)/Loss on lease remeasurement$ million | (0.6) | 29.4 | PDF p. 128 |
| Net gain on financial assets mandatorily measured at fair value through profit or loss ("FVTPL")$ million | (0.8) | (1.7) | PDF p. 128 |
| Fair value loss from foreign currency derivatives$ million | 0.5 | 0.3 | PDF p. 128 |
| Finance charges$ million | 334.5 | 395.5 | PDF p. 128 |
| Interest income$ million | (289.4) | (492.0) | PDF p. 128 |
| Loss on disposal of aircraft, spares and spare engines$ million | 3.7 | 13.6 | PDF p. 128 |
| Dividends from long-term investments$ million | (0.1) | (2.1) | PDF p. 128 |
| Gain on disposal of an associated company$ million | – | (1,097.9) | PDF p. 128 |
| Other non-operating items$ million | (84.1) | (15.6) | PDF p. 128 |
| Share of profits of joint venture companies$ million | (36.1) | (40.1) | PDF p. 128 |
| Share of losses/(profits) of associated companies$ million | 828.5 | (17.1) | PDF p. 128 |
| Cash flow from operating activities | |||
| Operating cash flow before working capital changes$ million | 5,211.0 | 4,370.9 | PDF p. 128 |
| Cash flow from operating activities; working capital changes | |||
| (Decrease)/Increase in trade and other creditors$ million | (255.0) | 70.2 | PDF p. 128 |
| Increase/(Decrease) in sales in advance of carriage$ million | 369.9 | (180.0) | PDF p. 128 |
| (Increase)/Decrease in trade debtors$ million | (392.0) | 168.8 | PDF p. 128 |
| Decrease in deposits and other debtors$ million | 37.1 | 107.0 | PDF p. 128 |
| Decrease in prepayments$ million | 7.8 | 44.0 | PDF p. 128 |
| Increase in restricted cash balances$ million | (3.1) | (6.4) | PDF p. 128 |
| Increase in inventories$ million | (16.6) | (88.1) | PDF p. 128 |
| Increase in deferred revenue$ million | 154.7 | 232.6 | PDF p. 128 |
| Cash flow from operating activities | |||
| Cash generated from operations$ million | 5,113.8 | 4,719.0 | PDF p. 128 |
| Income taxes paid$ million | (10.8) | (11.3) | PDF p. 128 |
| NET CASH PROVIDED BY OPERATING ACTIVITIES$ million | 5,103.0 | 4,707.7 | PDF p. 128 |
| Cash flow from investing activities | |||
| Capital expenditure$ million | (2,628.5) | (1,768.0) | PDF p. 129 |
| Purchase of intangible assets$ million | (120.4) | (105.7) | PDF p. 129 |
| Proceeds from disposal of aircraft and other property, plant and equipment$ million | 3.4 | 0.5 | PDF p. 129 |
| Proceeds from disposal of assets held for sale$ million | 0.6 | 0.4 | PDF p. 129 |
| Purchase of long-term investments$ million | (2.5) | – | PDF p. 129 |
| Proceeds from disposal of long-term investments$ million | 23.7 | 23.0 | PDF p. 129 |
| Purchase of short-term investments$ million | (208.1) | (69.6) | PDF p. 129 |
| Proceeds from disposal of short-term investments$ million | 148.1 | 66.9 | PDF p. 129 |
| Dividends received from associated and joint venture companies$ million | 57.9 | 47.9 | PDF p. 129 |
| Dividends received from investments$ million | 0.1 | 2.1 | PDF p. 129 |
| Interest received from investments and deposits$ million | 281.8 | 480.8 | PDF p. 129 |
| Placement of fixed deposits with original maturity of more than 12 months$ million | (384.0) | (1,739.0) | PDF p. 129 |
| Proceeds from maturity of fixed deposits with original maturity of more than 12 months$ million | 404.1 | 765.8 | PDF p. 129 |
| Investments in associated companies$ million | – | (1,006.8) | PDF p. 129 |
| NET CASH USED IN INVESTING ACTIVITIES$ million | (2,423.8) | (3,301.7) | PDF p. 129 |
| Cash flow from financing activities | |||
| Dividends paid$ million | (1,162.2) | (1,428.8) | PDF p. 129 |
| Dividends paid by subsidiary companies to non-controlling interests$ million | (25.4) | (21.4) | PDF p. 129 |
| Interest paid$ million | (230.1) | (264.5) | PDF p. 129 |
| Proceeds from borrowings$ million | 134.9 | 901.7 | PDF p. 129 |
| Payment of transaction costs related to borrowings$ million | – | (4.8) | PDF p. 129 |
| Repayment of borrowings$ million | (773.7) | (736.4) | PDF p. 129 |
| Repayment of lease liabilities$ million | (589.1) | (697.4) | PDF p. 129 |
| Repayment of bonds$ million | (700.0) | (300.0) | PDF p. 129 |
| Purchase of treasury shares$ million | (32.7) | (30.3) | PDF p. 129 |
| Proceeds from issuance of bonds$ million | 500.0 | – | PDF p. 129 |
| Payment of transaction costs from issuance of bonds$ million | (1.0) | – | PDF p. 129 |
| Redemption of mandatory convertible bonds$ million | – | (1,744.6) | PDF p. 129 |
| NET CASH USED IN FINANCING ACTIVITIES$ million | (2,879.3) | (4,326.5) | PDF p. 129 |
| Cash flows | |||
| NET CASH OUTFLOW$ million | (200.1) | (2,920.5) | PDF p. 129 |
| CASH AND CASH EQUIVALENTS AT BEGINNING OF THE FINANCIAL YEAR$ million | 8,257.1 | 11,256.0 | PDF p. 129 |
| Effect of exchange rate changes$ million | (125.8) | (78.4) | PDF p. 129 |
| CASH AND CASH EQUIVALENTS AT END OF THE FINANCIAL YEAR$ million | 7,931.2 | 8,257.1 | PDF p. 129 |
| Analysis of cash and cash equivalents | |||
| Fixed deposits$ million | 6,648.5 | 6,877.4 | PDF p. 129 |
| Cash and bank balances$ million | 1,282.7 | 1,379.7 | PDF p. 129 |
| CASH AND CASH EQUIVALENTS AT END OF THE FINANCIAL YEAR$ million | 7,931.2 | 8,257.1 | PDF p. 129 |
Original report: PDF p. 128 ↗ PDF p. 129 ↗
The accompanying accounting policies and explanatory notes form an integral part of the financial statements.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026FY2025/26 | 2025FY2024/25 | Source |
|---|---|---|---|
| Financial Results — The Group | |||
| Total revenue$ million | 20,522.0 | 19,539.8 | PDF p. 10 |
| Total expenditure$ million | 18,147.5 | 17,830.7 | PDF p. 10 |
| Operating profit$ million | 2,374.5 | 1,709.1 | PDF p. 10 |
| Profit before taxation$ million | 1,617.5 | 2,964.8 | PDF p. 10 |
| Profit attributable to owners of the Company$ million | 1,184.0 | 2,778.0 | PDF p. 10 |
Original report: PDF p. 10 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026FY2025/26 | 2025FY2024/25 | Source |
|---|---|---|---|
| Financial Position — The Group | |||
| Share capital$ million | 8,096.9 | 7,180.9 | PDF p. 10 |
| Treasury shares$ million | (37.1) | (26.5) | PDF p. 10 |
| Capital reserve$ million | (199.8) | (130.9) | PDF p. 10 |
| Foreign currency translation reserve$ million | 4.5 | (25.2) | PDF p. 10 |
| Share-based compensation reserve$ million | 33.4 | 31.6 | PDF p. 10 |
| Fair value reserve$ million | 868.8 | 153.2 | PDF p. 10 |
| General reserve$ million | 8,495.0 | 8,473.1 | PDF p. 10 |
| Equity attributable to owners of the Company$ million | 17,261.7 | 15,656.2 | PDF p. 10 |
| Return on equity holders' funds% | 7.2 | 17.4 | PDF p. 10 |
| Total assets$ million | 43,412.7 | 43,086.8 | PDF p. 10 |
| Total debt$ million | 10,644.7 | 12,914.3 | PDF p. 10 |
| Total debt : equity ratiotimes | 0.62 | 0.82 | PDF p. 10 |
| Value added$ million | 8,449.8 | 9,522.2 | PDF p. 10 |
Original report: PDF p. 10 ↗
The source row also prints a % Change column; the signed change is retained in the exact source quote but not structured because the sign and magnitude are separated in the source text.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026FY2025/26 | 2025FY2024/25 | Source |
|---|---|---|---|
| Per Share Data | |||
| Earnings - basiccents | 38.4 | 89.3 | PDF p. 10 |
| Earnings - dilutedcents | 38.2 | 85.3 | PDF p. 10 |
| Net asset value$ per share | 5.48 | 5.27 | PDF p. 10 |
Original report: PDF p. 10 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026FY2025/26 | 2025FY2024/25 | Source |
|---|---|---|---|
| Financial Results — The Full Service Carrier | |||
| Total revenue$ million | 17,372.2 | 16,738.0 | PDF p. 10 |
| Total expenditure$ million | 15,066.0 | 15,069.1 | PDF p. 10 |
| Operating profit$ million | 2,306.2 | 1,668.9 | PDF p. 10 |
| Profit before taxation$ million | 1,474.9 | 2,604.7 | PDF p. 10 |
| Profit after taxation$ million | 1,106.4 | 2,461.3 | PDF p. 10 |
| Value added$ million | 6,741.0 | 7,803.7 | PDF p. 10 |
Original report: PDF p. 10 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Group; FY2025/26 | 2025Group; FY2024/25 | 2024Group; FY2023/24 | 2023Group; FY2022/23 | 2022Group; FY2021/22 | Source |
|---|---|---|---|---|---|---|
| Profit and loss account | ||||||
| Total revenue$ million | 20,522.0 | 19,539.8 | 19,012.7 | 17,774.8 | 7,614.8 | PDF p. 212 |
| Total expenditure$ million | (18,147.5) | (17,830.7) | (16,285.2) | (15,082.7) | (8,224.5) | PDF p. 212 |
| Operating profit/(loss)$ million | 2,374.5 | 1,709.1 | 2,727.5 | 2,692.1 | (609.7) | PDF p. 212 |
| Finance charges$ million | (334.5) | (395.5) | (424.5) | (419.9) | (391.6) | PDF p. 212 |
| Interest income$ million | 289.4 | 492.0 | 631.7 | 412.6 | 45.9 | PDF p. 212 |
| (Loss)/Surplus on disposal of aircraft, spares and spare engines$ million | (3.7) | (13.6) | 65.2 | (7.3) | 85.9 | PDF p. 212 |
| Dividend from long-term investments$ million | 0.1 | 2.1 | – | 4.0 | 4.0 | PDF p. 212 |
| Other non-operating items$ million | 84.1 | 1,113.5 | (36.5) | (13.5) | (108.4) | PDF p. 212 |
| Share of profits of joint venture companies$ million | 36.1 | 40.1 | 32.8 | 31.8 | 29.8 | PDF p. 212 |
| Share of (losses)/profit of associated companies$ million | (828.5) | 17.1 | 40.9 | (63.0) | (145.9) | PDF p. 212 |
| Profit/(Loss) before taxation$ million | 1,617.5 | 2,964.8 | 3,037.1 | 2,636.8 | (1,090.0) | PDF p. 212 |
| Profit/(Loss) attributable to owners of the Company$ million | 1,184.0 | 2,778.0 | 2,674.8 | 2,156.8 | (962.0) | PDF p. 212 |
Original report: PDF p. 212 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Group; FY2025/26 | 2025Group; FY2024/25 | 2024Group; FY2023/24 | 2023Group; FY2022/23 | 2022Group; FY2021/22 | Source |
|---|---|---|---|---|---|---|
| Statement of financial position | ||||||
| Share capital$ million | 8,096.9 | 7,180.9 | 7,180.4 | 7,180.2 | 7,180.2 | PDF p. 212 |
| Mandatory convertible bonds$ million | – | – | 1,547.5 | 6,195.1 | 9,691.2 | PDF p. 212 |
| Treasury shares$ million | (37.1) | (26.5) | (37.5) | (73.8) | (106.5) | PDF p. 212 |
| Capital reserve$ million | (199.8) | (130.9) | (116.7) | (116.0) | (107.3) | PDF p. 212 |
| Foreign currency translation reserve$ million | 4.5 | (25.2) | (22.4) | (32.4) | (16.2) | PDF p. 212 |
| Share-based compensation reserve$ million | 33.4 | 31.6 | 32.2 | 24.3 | 20.7 | PDF p. 212 |
| Fair value reserve$ million | 868.8 | 153.2 | 448.7 | 506.9 | 1,076.2 | PDF p. 212 |
| General reserve$ million | 8,495.0 | 8,473.1 | 7,305.7 | 6,174.0 | 4,673.6 | PDF p. 212 |
| Equity attributable to owners of the Company$ million | 17,261.7 | 15,656.2 | 16,337.9 | 19,858.3 | 22,411.9 | PDF p. 212 |
| Non-controlling interests$ million | 424.3 | 413.8 | 406.7 | 391.5 | 388.5 | PDF p. 212 |
| Total equity$ million | 17,686.0 | 16,070.0 | 16,744.6 | 20,249.8 | 22,800.4 | PDF p. 212 |
| Property, plant and equipment$ million | 24,095.6 | 23,480.9 | 23,435.8 | 23,832.5 | 24,570.6 | PDF p. 212 |
| Right-of-use assets R1$ million | 2,805.9 | 3,087.4 | 3,371.0 | 3,854.5 | 3,290.1 | PDF p. 212 |
| Intangible assets$ million | 385.4 | 338.6 | 304.5 | 297.5 | 303.2 | PDF p. 212 |
| Associated companies$ million | 2,018.8 | 2,865.2 | 780.5 | 757.3 | 805.8 | PDF p. 212 |
| Joint venture companies$ million | 358.5 | 334.4 | 297.1 | 265.0 | 233.4 | PDF p. 212 |
| Long-term investments$ million | 39.6 | 39.5 | 38.9 | 39.4 | 42.6 | PDF p. 212 |
| Other non-current assets$ million | 267.9 | 1,544.8 | 395.2 | 755.7 | 1,737.2 | PDF p. 212 |
| Current assets$ million | 13,441.0 | 11,396.0 | 15,641.7 | 19,299.3 | 17,688.1 | PDF p. 212 |
| Total assets$ million | 43,412.7 | 43,086.8 | 44,264.7 | 49,101.2 | 48,671.0 | PDF p. 212 |
| Deferred account$ million | 113.3 | 74.3 | 15.0 | 55.8 | 95.4 | PDF p. 212 |
| Deferred taxation$ million | 2,452.0 | 1,884.5 | 1,802.9 | 1,430.2 | 1,064.3 | PDF p. 212 |
| Lease liabilities R1$ million | 2,978.0 | 3,403.6 | 3,795.2 | 4,177.9 | 3,682.5 | PDF p. 212 |
| Other non-current liabilities$ million | 6,740.4 | 8,236.2 | 9,848.3 | 10,133.9 | 13,727.5 | PDF p. 212 |
| Current liabilities$ million | 13,443.0 | 13,418.2 | 12,058.7 | 13,053.6 | 7,300.9 | PDF p. 212 |
| Total liabilities$ million | 25,726.7 | 27,016.8 | 27,520.1 | 28,851.4 | 25,870.6 | PDF p. 212 |
| Net assets$ million | 17,686.0 | 16,070.0 | 16,744.6 | 20,249.8 | 22,800.4 | PDF p. 212 |
Original report: PDF p. 212 ↗
R1: With effect from 1 April 2019, the Group adopted IFRS 16 Leases, a single, on-balance sheet lease accounting model for leases. A lessee recognises a right-of-use asset representing its right to use the underlying asset and a lease liability representing its obligation to make lease payments.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Group; FY2025/26 | 2025Group; FY2024/25 | 2024Group; FY2023/24 | 2023Group; FY2022/23 | 2022Group; FY2021/22 | Source |
|---|---|---|---|---|---|---|
| Cash flow | ||||||
| Cash flow from operations$ million | 5,113.8 | 4,719.0 | 5,078.2 | 9,135.3 | 3,049.8 | PDF p. 213 |
| Internally generated cash flowR2$ million | 5,175.7 | 4,767.8 | 5,218.7 | 10,396.0 | 4,142.4 | PDF p. 213 |
| Capital expenditure$ million | 2,628.5 | 1,768.0 | 1,231.3 | 1,601.8 | 3,048.7 | PDF p. 213 |
Original report: PDF p. 213 ↗
R1: With effect from 1 April 2019, the Group adopted IFRS 16 Leases, a single, on-balance sheet lease accounting model for leases. A lessee recognises a right-of-use asset representing its right to use the underlying asset and a lease liability representing its obligation to make lease payments.
R2: Internally generated cash flow comprises cash generated from operations, dividends from associated and joint venture companies, proceeds from sale of aircraft and other property, plant and equipment and proceeds from sales and leaseback transactions.
R3: Cash earnings is defined as profit/(loss) attributable to owners of the Company plus depreciation, amortisation and impairment.
R4: Quoted share prices are accurate as at the respective financial year end. Prior year share prices not adjusted for rights-issuance or other corporate actions.
R5: Return on equity holders’ funds is the profit/(loss) attributable to owners of the Company expressed as a percentage of the average equity holders’ funds.
R6: Return on total assets is the profit/(loss) after tax expressed as a percentage of the average total assets.
R7: Return on turnover is the profit/(loss) after tax expressed as a percentage of the total revenue.
R8: Based on average employee strength.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Group; FY2025/26 | 2025Group; FY2024/25 | 2024Group; FY2023/24 | 2023Group; FY2022/23 | 2022Group; FY2021/22 | Source |
|---|---|---|---|---|---|---|
| Per share data | ||||||
| Earnings/(Loss) – basic (cents)cents | 38.4 | 89.3 | 63.3 | 35.6 | (16.2) | PDF p. 213 |
| Earnings/(Loss) – diluted (cents)cents | 38.2 | 85.3 | 61.4 | 35.1 | (16.2) | PDF p. 213 |
| Cash earnings ($)R3$ per share | 1.21 | 1.66 | 1.15 | 0.69 | 0.18 | PDF p. 213 |
| Net asset value ($)$ per share | 5.48 | 5.27 | 5.49 | 6.68 | 7.55 | PDF p. 213 |
Original report: PDF p. 213 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Group; FY2025/26 | 2025Group; FY2024/25 | 2024Group; FY2023/24 | 2023Group; FY2022/23 | 2022Group; FY2021/22 | Source |
|---|---|---|---|---|---|---|
| Share price | ||||||
| High$ | 7.63 | 7.14 | 8.05 | 6.02 | 5.78 | PDF p. 213 |
| Low$ | 5.90 | 5.86 | 5.69 | 4.99 | 4.41 | PDF p. 213 |
| Closing$ | 6.60 | 6.79 | 6.40 | 5.73 | 5.50 | PDF p. 213 |
Original report: PDF p. 213 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Group; FY2025/26 | 2025Group; FY2024/25 | 2024Group; FY2023/24 | 2023Group; FY2022/23 | 2022Group; FY2021/22 | Source |
|---|---|---|---|---|---|---|
| Dividends | ||||||
| Ordinary dividends (cents per share)cents per share | 27.0 | 40.0 | 48.0 | 38.0 | – | PDF p. 213 |
| Special dividends (cents per share)cents per share | 10.0 | – | – | – | – | PDF p. 213 |
| Dividend cover (times)times | 1.0 | 2.3 | 1.9 | 1.9 | – | PDF p. 213 |
Original report: PDF p. 213 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Group; FY2025/26 | 2025Group; FY2024/25 | 2024Group; FY2023/24 | 2023Group; FY2022/23 | 2022Group; FY2021/22 | Source |
|---|---|---|---|---|---|---|
| Profitability ratios | ||||||
| Return on equity holders' fundsR5% | 7.2 | 17.4 | 14.8 | 10.2 | (5.0) | PDF p. 213 |
| Return on total assetsR6% | 2.8 | 6.4 | 5.8 | 4.4 | (2.2) | PDF p. 213 |
| Return on turnoverR7% | 6.0 | 14.4 | 14.2 | 14.2 | (12.5) | PDF p. 213 |
Original report: PDF p. 213 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Group; FY2025/26 | 2025Group; FY2024/25 | 2024Group; FY2023/24 | 2023Group; FY2022/23 | 2022Group; FY2021/22 | Source |
|---|---|---|---|---|---|---|
| Productivity and employee data | ||||||
| Value added ($ million)$ million | 8,449.8 | 9,522.2 | 9,221.8 | 8,154.6 | 2,820.1 | PDF p. 213 |
| Value added per employee ($)R8$ per employee | 290,561 | 342,267 | 359,959 | 357,360 | 126,951 | PDF p. 213 |
| Revenue per employee ($)R8$ per employee | 705,684 | 702,340 | 742,133 | 778,947 | 342,793 | PDF p. 213 |
| Average employee strengthemployees | 29,081 | 27,821 | 25,619 | 22,819 | 22,214 | PDF p. 213 |
Original report: PDF p. 213 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Group; FY2025/26 | 2025Group; FY2024/25 | 2024Group; FY2023/24 | 2023Group; FY2022/23 | 2022Group; FY2021/22 | Source |
|---|---|---|---|---|---|---|
| Exchange rate | ||||||
| SGD per USD exchange rate as at 31 MarchSGD per USD | 1.2912 | 1.3403 | 1.3495 | 1.3295 | 1.3533 | PDF p. 213 |
Original report: PDF p. 213 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Group; FY2025/26 | 2026Group; FY2025/26 | 2026Group; FY2025/26 | Source |
|---|---|---|---|---|
| Changes in equity | ||||
| Balance at 1 April 2025$ million | 7,180.9 | (26.5) | (130.9) | PDF p. 122 |
| Currency translation differences$ million | – | – | – | PDF p. 122 |
| Net fair value changes on cash flow hedges$ million | – | – | – | PDF p. 122 |
| Actuarial gain on revaluation of defined benefit plans$ million | – | – | – | PDF p. 122 |
| Realisation of reserves upon liquidation of a subsidiary company$ million | – | – | – | PDF p. 122 |
| joint venture companies$ million | – | – | 8.4 | PDF p. 122 |
| Other comprehensive income for the financial year, net of tax$ million | – | – | 8.4 | PDF p. 122 |
| Profit for the financial year$ million | – | – | – | PDF p. 122 |
| Total comprehensive income for the financial year$ million | – | – | 8.4 | PDF p. 122 |
| Purchase of treasury shares$ million | – | (32.7) | – | PDF p. 122 |
| Conversion of convertible bonds$ million | 916.0 | – | (74.3) | PDF p. 122 |
| Changes in ownership interest without loss of control$ million | – | – | 0.3 | PDF p. 122 |
| Share of other changes in equity of an associated company$ million | – | – | (3.2) | PDF p. 122 |
| Share-based compensation expense$ million | – | – | – | PDF p. 122 |
| Treasury shares reissued pursuant to equity compensation plans$ million | – | 22.1 | (0.1) | PDF p. 122 |
| Dividends$ million | – | – | – | PDF p. 122 |
| Total transactions with owners$ million | 916.0 | (10.6) | (77.3) | PDF p. 122 |
| Balance at 31 March 2026$ million | 8,096.9 | (37.1) | (199.8) | PDF p. 122 |
Original report: PDF p. 122 ↗
This page contains the first printed component columns of a table continued on the following physical page.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Group; FY2025/26 | 2026Group; FY2025/26 | 2026Group; FY2025/26 | 2026Group; FY2025/26 | 2026Group; FY2025/26 | 2026Group; FY2025/26 | 2026Group; FY2025/26 | Source |
|---|---|---|---|---|---|---|---|---|
| Unlabelled continuation row aligned in printed order to preceding equity statement page | ||||||||
| Balance at 1 April 2025$ million | (25.2) | 31.6 | 153.2 | 8,473.1 | 15,656.2 | 413.8 | 16,070.0 | PDF p. 123 Label p. 122 |
| Currency translation differences$ million | (21.5) | – | – | – | (21.5) | (7.0) | (28.5) | PDF p. 123 Label p. 122 |
| Net fair value changes on cash flow hedges$ million | – | – | 715.6 | – | 715.6 | – | 715.6 | PDF p. 123 Label p. 122 |
| Actuarial gain on revaluation of defined benefit plans$ million | – | – | – | 0.2 | 0.2 | – | 0.2 | PDF p. 123 Label p. 122 |
| Realisation of reserves upon liquidation of a subsidiary company$ million | 1.5 | – | – | – | 1.5 | 0.4 | 1.9 | PDF p. 123 Label p. 122 |
| Share of other comprehensive income of associated and joint venture companies$ million | 49.7 | – | – | – | 58.1 | 0.2 | 58.3 | PDF p. 123 Label p. 122 |
| Other comprehensive income for the financial year, net of tax$ million | 29.7 | – | 715.6 | 0.2 | 753.9 | (6.4) | 747.5 | PDF p. 123 Label p. 122 |
| Profit for the financial year$ million | – | – | – | 1,184.0 | 1,184.0 | 39.0 | 1,223.0 | PDF p. 123 Label p. 122 |
| Total comprehensive income for the financial year$ million | 29.7 | – | 715.6 | 1,184.2 | 1,937.9 | 32.6 | 1,970.5 | PDF p. 123 Label p. 122 |
| Purchase of treasury shares$ million | – | – | – | – | (32.7) | – | (32.7) | PDF p. 123 Label p. 122 |
| Conversion of convertible bonds$ million | – | – | – | – | 841.7 | – | 841.7 | PDF p. 123 Label p. 122 |
| Changes in ownership interest without loss of control$ million | – | (5.1) | – | (1.6) | (6.4) | 3.3 | (3.1) | PDF p. 123 Label p. 122 |
| Share of other changes in equity of an associated company$ million | – | – | – | 1.5 | (1.7) | – | (1.7) | PDF p. 123 Label p. 122 |
| Share-based compensation expense$ million | – | 28.1 | – | – | 28.1 | – | 28.1 | PDF p. 123 Label p. 122 |
| Treasury shares reissued pursuant to equity compensation plans$ million | – | (21.2) | – | – | 0.8 | – | 0.8 | PDF p. 123 Label p. 122 |
| Dividends$ million | – | – | – | (1,162.2) | (1,162.2) | (25.4) | (1,187.6) | PDF p. 123 Label p. 122 |
| Total transactions with owners$ million | – | 1.8 | – | (1,162.3) | (332.4) | (22.1) | (354.5) | PDF p. 123 Label p. 122 |
| Balance at 31 March 2026$ million | 4.5 | 33.4 | 868.8 | 8,495.0 | 17,261.7 | 424.3 | 17,686.0 | PDF p. 123 Label p. 122 |
Original report: PDF p. 123 ↗
The continuation page prints component values without repeating row labels; rows remain in the same order as the labeled table on the immediately preceding physical page.
The preceding physical page 122 specifies “(in $ million)” and the FY2025/26 Group statement context; this continuation page does not repeat the unit or year header.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group; FY2024/25 | 2025Group; FY2024/25 | 2025Group; FY2024/25 | Source |
|---|---|---|---|---|
| Changes in equity | ||||
| Balance at 1 April 2024$ million | 7,180.4 | 1,547.5 | (37.5) | PDF p. 124 |
| Currency translation differences$ million | – | – | – | PDF p. 124 |
| Net fair value changes on cash flow hedges$ million | – | – | – | PDF p. 124 |
| Actuarial gain on revaluation of defined benefit plans$ million | – | – | – | PDF p. 124 |
| Share of other comprehensive income of associated and$ million | – | – | – | PDF p. 124 |
| Other comprehensive income for the financial year, net of tax$ million | – | – | – | PDF p. 124 |
| Profit for the financial year$ million | – | – | – | PDF p. 124 |
| Total comprehensive income for the financial year$ million | – | – | – | PDF p. 124 |
| Redemption of mandatory convertible bonds$ million | – | (1,547.5) | – | PDF p. 124 |
| Purchase of treasury shares$ million | – | – | (30.3) | PDF p. 124 |
| Changes in ownership interest without loss of control$ million | – | – | – | PDF p. 124 |
| Share of other changes in equity of an associated company$ million | – | – | – | PDF p. 124 |
| Realisation of reserves from disposal of interest$ million | – | – | – | PDF p. 124 |
| Share-based compensation expense$ million | – | – | – | PDF p. 124 |
| Ordinary shares issued pursuant to equity compensation plans$ million | 0.5 | – | – | PDF p. 124 |
| Treasury shares reissued pursuant to equity compensation plans$ million | – | – | 41.3 | PDF p. 124 |
| Dividends$ million | – | – | – | PDF p. 124 |
| Total contributions by and distributions to owners$ million | 0.5 | (1,547.5) | 11.0 | PDF p. 124 |
| Acquisition of non-controlling interests without$ million | – | – | – | PDF p. 124 |
| Incorporation of a subsidiary company with$ million | – | – | – | PDF p. 124 |
| Total changes in ownership interests in subsidiary companies$ million | – | – | – | PDF p. 124 |
| Total transactions with owners$ million | 0.5 | (1,547.5) | 11.0 | PDF p. 124 |
| Balance at 31 March 2025$ million | 7,180.9 | – | (26.5) | PDF p. 124 |
Original report: PDF p. 124 ↗
This page contains the first printed component columns of a table continued on the following physical page.
This comparative Group statement covers the source opening balance at 1 April 2024 through the closing balance at 31 March 2025.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Group; FY2024/25 | 2025Group; FY2024/25 | 2025Group; FY2024/25 | 2025Group; FY2024/25 | 2025Group; FY2024/25 | 2025Group; FY2024/25 | 2025Group; FY2024/25 | 2025Group; FY2024/25 | Source |
|---|---|---|---|---|---|---|---|---|---|
| Unlabelled continuation row aligned in printed order to preceding equity statement page | |||||||||
| Balance at 1 April 2024$ million | (116.7) | (22.4) | 32.2 | 448.7 | 7,305.7 | 16,337.9 | 406.7 | 16,744.6 | PDF p. 125 Label p. 124 |
| Currency translation differences$ million | – | (3.7) | – | – | – | (3.7) | (1.2) | (4.9) | PDF p. 125 Label p. 124 |
| Net fair value changes on cash flow hedges$ million | – | – | – | (294.7) | – | (294.7) | 0.2 | (294.5) | PDF p. 125 Label p. 124 |
| Actuarial gain on revaluation of defined benefit plans$ million | – | – | – | – | 12.0 | 12.0 | – | 12.0 | PDF p. 125 Label p. 124 |
| Share of other comprehensive income of associated and joint venture companies$ million | 11.4 | (0.7) | – | (0.8) | – | 9.9 | (0.2) | 9.7 | PDF p. 125 Label p. 124 |
| Other comprehensive income for the financial year, net of tax$ million | 11.4 | (4.4) | – | (295.5) | 12.0 | (276.5) | (1.2) | (277.7) | PDF p. 125 Label p. 124 |
| Profit for the financial year$ million | – | – | – | – | 2,778.0 | 2,778.0 | 34.2 | 2,812.2 | PDF p. 125 Label p. 124 |
| Total comprehensive income for the financial year$ million | 11.4 | (4.4) | – | (295.5) | 2,790.0 | 2,501.5 | 33.0 | 2,534.5 | PDF p. 125 Label p. 124 |
| Redemption of mandatory convertible bonds$ million | – | – | – | – | (197.1) | (1,744.6) | – | (1,744.6) | PDF p. 125 Label p. 124 |
| Purchase of treasury shares$ million | – | – | – | – | – | (30.3) | – | (30.3) | PDF p. 125 Label p. 124 |
| Changes in ownership interest without loss of control$ million | (0.1) | – | (4.4) | – | (2.2) | (6.7) | (7.7) | (14.4) | PDF p. 125 Label p. 124 |
| Share of other changes in equity of an associated company$ million | (5.5) | – | – | – | 5.5 | – | – | – | PDF p. 125 Label p. 124 |
| Realisation of reserves from disposal of interest in an associated company$ million | (0.2) | 1.6 | – | – | – | 1.4 | – | 1.4 | PDF p. 125 Label p. 124 |
| Share-based compensation expense$ million | – | – | 25.2 | – | – | 25.2 | – | 25.2 | PDF p. 125 Label p. 124 |
| Ordinary shares issued pursuant to equity compensation plans$ million | – | – | (0.5) | – | – | – | – | – | PDF p. 125 Label p. 124 |
| Treasury shares reissued pursuant to equity compensation plans$ million | (19.5) | – | (20.9) | – | – | 0.9 | – | 0.9 | PDF p. 125 Label p. 124 |
| Dividends$ million | – | – | – | – | (1,428.8) | (1,428.8) | (21.4) | (1,450.2) | PDF p. 125 Label p. 124 |
| Total contributions by and distributions to owners$ million | (25.3) | 1.6 | (0.6) | – | (1,622.6) | (3,182.9) | (29.1) | (3,212.0) | PDF p. 125 Label p. 124 |
| Acquisition of non-controlling interests without change in control$ million | (0.3) | – | – | – | – | (0.3) | (0.1) | (0.4) | PDF p. 125 Label p. 124 |
| Incorporation of a subsidiary company with non-controlling interests$ million | – | – | – | – | – | – | 3.3 | 3.3 | PDF p. 125 Label p. 124 |
| Total changes in ownership interests in subsidiary companies$ million | (0.3) | – | – | – | – | (0.3) | 3.2 | 2.9 | PDF p. 125 Label p. 124 |
| Total transactions with owners$ million | (25.6) | 1.6 | (0.6) | – | (1,622.6) | (3,183.2) | (25.9) | (3,209.1) | PDF p. 125 Label p. 124 |
| Balance at 31 March 2025$ million | (130.9) | (25.2) | 31.6 | 153.2 | 8,473.1 | 15,656.2 | 413.8 | 16,070.0 | PDF p. 125 Label p. 124 |
Original report: PDF p. 125 ↗
The continuation page prints component values without repeating row labels; rows remain in the same order as the labeled table on the immediately preceding physical page.
The preceding physical page 124 specifies “(in $ million)” and the Group statement context. The comparative period is shown by the source opening balance at 1 April 2024 and closing balance at 31 March 2025.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Company; FY2025/26 | 2026Company; FY2025/26 | 2026Company; FY2025/26 | 2026Company; FY2025/26 | 2026Company; FY2025/26 | 2026Company; FY2025/26 | 2026Company; FY2025/26 | Source |
|---|---|---|---|---|---|---|---|---|
| Changes in equity | ||||||||
| Balance at 1 April 2025$ million | 7,180.9 | (26.5) | (929.2) | 26.2 | 154.4 | 10,090.3 | 16,496.1 | PDF p. 126 |
| Net fair value changes on$ million | – | – | – | – | 588.9 | – | 588.9 | PDF p. 126 |
| Actuarial gain on revaluation$ million | – | – | – | – | – | 1.6 | 1.6 | PDF p. 126 |
| Other comprehensive income$ million | – | – | – | – | 588.9 | 1.6 | 590.5 | PDF p. 126 |
| Profit for the financial year$ million | – | – | – | – | – | 1,106.4 | 1,106.4 | PDF p. 126 |
| Total comprehensive income$ million | – | – | – | – | 588.9 | 1,108.0 | 1,696.9 | PDF p. 126 |
| Purchase of treasury shares$ million | – | (32.7) | – | – | – | – | (32.7) | PDF p. 126 |
| Conversion of convertible bonds$ million | 916.0 | – | (74.3) | – | – | – | 841.7 | PDF p. 126 |
| Share-based compensation$ million | – | – | – | 22.1 | – | – | 22.1 | PDF p. 126 |
| Treasury shares reissued$ million | – | 22.1 | (0.1) | (21.2) | – | – | 0.8 | PDF p. 126 |
| Dividends$ million | – | – | – | – | – | (1,162.2) | (1,162.2) | PDF p. 126 |
| Total transactions with owners$ million | 916.0 | (10.6) | (74.4) | 0.9 | – | (1,162.2) | (330.3) | PDF p. 126 |
| Balance at 31 March 2026$ million | 8,096.9 | (37.1) | (1,003.6) | 27.1 | 743.3 | 10,036.1 | 17,862.7 | PDF p. 126 |
Original report: PDF p. 126 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Company; FY2024/25 | 2025Company; FY2024/25 | 2025Company; FY2024/25 | 2025Company; FY2024/25 | 2025Company; FY2024/25 | 2025Company; FY2024/25 | 2025Company; FY2024/25 | 2025Company; FY2024/25 | Source |
|---|---|---|---|---|---|---|---|---|---|
| Changes in equity | |||||||||
| Balance at 1 April 2024$ million | 7,180.4 | 1,547.5 | (37.5) | (909.7) | 26.4 | 419.8 | 9,243.0 | 17,469.9 | PDF p. 127 |
| Net fair value changes$ million | – | – | – | – | – | (265.4) | – | (265.4) | PDF p. 127 |
| Actuarial gain on$ million | – | – | – | – | – | – | 11.9 | 11.9 | PDF p. 127 |
| Other$ million | – | – | – | – | – | (265.4) | 11.9 | (253.5) | PDF p. 127 |
| Profit for the financial year$ million | – | – | – | – | – | – | 2,461.3 | 2,461.3 | PDF p. 127 |
| Total comprehensive$ million | – | – | – | – | – | (265.4) | 2,473.2 | 2,207.8 | PDF p. 127 |
| Redemption of mandatory$ million | – | (1,547.5) | – | – | – | – | (197.1) | (1,744.6) | PDF p. 127 |
| Purchase of treasury$ million | – | – | (30.3) | – | – | – | – | (30.3) | PDF p. 127 |
| Share-based compensation$ million | – | – | – | – | 21.2 | – | – | 21.2 | PDF p. 127 |
| Ordinary shares issued$ million | 0.5 | – | – | – | (0.5) | – | – | – | PDF p. 127 |
| Treasury shares reissued$ million | – | – | 41.3 | (19.5) | (20.9) | – | – | 0.9 | PDF p. 127 |
| Dividends$ million | – | – | – | – | – | – | (1,428.8) | (1,428.8) | PDF p. 127 |
| Total transactions with$ million | 0.5 | (1,547.5) | 11.0 | (19.5) | (0.2) | – | (1,625.9) | (3,181.6) | PDF p. 127 |
| Balance at 31 March 2025$ million | 7,180.9 | – | (26.5) | (929.2) | 26.2 | 154.4 | 10,090.3 | 16,496.1 | PDF p. 127 |
Original report: PDF p. 127 ↗
This comparative Company statement covers the source opening balance at 1 April 2024 through the closing balance at 31 March 2025.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Group; FY2025/26 | 2025Group; FY2024/25 | 2024Group; FY2023/24 | Source |
|---|---|---|---|---|
| Three-year financial highlights | ||||
| TOTAL GROUP REVENUE$ million | 20,522 | 19,540 | 19,013 | PDF p. 9 |
Original report: PDF p. 9 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Group; FY2025/26 | 2025Group; FY2024/25 | 2024Group; FY2023/24 | Source |
|---|---|---|---|---|
| Three-year financial highlights | ||||
| GROUP OPERATING PROFIT$ million | 2,375 | 1,709 | 2,728 | PDF p. 9 |
Original report: PDF p. 9 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Group; FY2025/26 | 2025Group; FY2024/25 | 2024Group; FY2023/24 | Source |
|---|---|---|---|---|
| Three-year financial highlights | ||||
| GROUP NET PROFIT$ million | 1,184 | 2,778 | 2,675 | PDF p. 9 |
Original report: PDF p. 9 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Group; FY2025/26 (current-year card) | Source |
|---|---|---|
| Three-year financial highlights | ||
| Net asset value per share$ per share | 5.48 | PDF p. 9 |
Original report: PDF p. 9 ↗
Net asset value per share is computed by dividing equity attributable to owners of the Company by the number of ordinary shares in issue excluding treasury shares.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Group; FY2025/26 (current-year card) | Source |
|---|---|---|
| Three-year financial highlights | ||
| Earnings per share (basic)cents | 38.4 | PDF p. 9 |
Original report: PDF p. 9 ↗
Earnings per share (basic) is computed by dividing profit attributable to owners of the Company by the weighted average number of ordinary shares in issue excluding treasury shares.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026FSC, FY2025/26 | 2026LCC, FY2025/26 | 2026Engineering services, FY2025/26 | 2026Others, FY2025/26 | 2026Total of segments, FY2025/26 | 2026Elimination, FY2025/26 | 2026Consolidated, FY2025/26 | Source |
|---|---|---|---|---|---|---|---|---|
| TOTAL REVENUE | ||||||||
| External revenue$ million | 17,297.9 | 2,481.4 | 640.4 | 102.3 | 20,522.0 | – | 20,522.0 | PDF p. 142 |
| Inter-segment revenue$ million | 74.3 | 107.6 | 782.5 | 57.8 | 1,022.2 | (1,022.2) | – | PDF p. 142 |
| TOTAL REVENUE$ million | 17,372.2 | 2,589.0 | 1,422.9 | 160.1 | 21,544.2 | (1,022.2) | 20,522.0 | PDF p. 142 |
| RESULTS | ||||||||
| Segment result$ million | 2,306.2 | 56.1 | 29.4 | (12.5) | 2,379.2 | (4.7) | 2,374.5 | PDF p. 142 |
| Finance charges$ million | (331.1) | (70.1) | (5.3) | (0.9) | (407.4) | 72.9 | (334.5) | PDF p. 142 |
| Interest income$ million | 303.3 | 40.4 | 12.1 | 5.1 | 360.9 | (71.5) | 289.4 | PDF p. 142 |
| Loss on disposal of aircraft, spares and spare engines$ million | (3.6) | (0.1) | – | – | (3.7) | – | (3.7) | PDF p. 142 |
| Dividends from long-term investments$ million | 0.1 | – | – | – | 0.1 | – | 0.1 | PDF p. 142 |
| Other non-operating items$ million | 89.4 | – | (2.2) | (3.1) | 84.1 | – | 84.1 | PDF p. 142 |
| Share of profits of joint venture companies$ million | 2.7 | – | 33.4 | – | 36.1 | – | 36.1 | PDF p. 142 |
| Share of (losses)/profits of associated companies$ million | (940.4) | – | 111.9 | – | (828.5) | – | (828.5) | PDF p. 142 |
| Taxation$ million | (368.5) | (19.4) | (7.8) | 1.2 | (394.5) | – | (394.5) | PDF p. 142 |
| Profit/(Loss) for the financial year$ million | 1,058.1 | 6.9 | 171.5 | (10.2) | 1,226.3 | (3.3) | 1,223.0 | PDF p. 142 |
Original report: PDF p. 142 ↗
* Relates to inter-segment transactions eliminated on consolidation.
Attributable-to rows are printed only in the Consolidated column.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025FSC, FY2024/25 | 2025LCC, FY2024/25 | 2025Engineering services, FY2024/25 | 2025Others, FY2024/25 | 2025Total of segments, FY2024/25 | 2025Elimination, FY2024/25 | 2025Consolidated, FY2024/25 | Source |
|---|---|---|---|---|---|---|---|---|
| TOTAL REVENUE | ||||||||
| External revenue$ million | 16,676.9 | 2,255.9 | 521.6 | 85.4 | 19,539.8 | – | 19,539.8 | PDF p. 143 |
| Inter-segment revenue$ million | 61.1 | 93.3 | 723.5 | 68.8 | 946.7 | (946.7) | – | PDF p. 143 |
| TOTAL REVENUE$ million | 16,738.0 | 2,349.2 | 1,245.1 | 154.2 | 20,486.5 | (946.7) | 19,539.8 | PDF p. 143 |
| RESULTS | ||||||||
| Segment result$ million | 1,668.9 | 35.8 | 14.6 | (18.1) | 1,701.2 | 7.9 | 1,709.1 | PDF p. 143 |
| Finance charges$ million | (432.6) | (74.5) | (3.9) | 0.9 | (510.1) | 114.6 | (395.5) | PDF p. 143 |
| Interest income$ million | 505.5 | 67.2 | 18.6 | 13.5 | 604.8 | (112.8) | 492.0 | PDF p. 143 |
| Loss on disposal of aircraft, spares and spare engines$ million | (13.5) | – | – | (0.1) | (13.6) | – | (13.6) | PDF p. 143 |
| Dividends from long-term investments$ million | 2.1 | – | – | – | 2.1 | – | 2.1 | PDF p. 143 |
| Gain on disposal of an associated company$ million | 1,097.9 | – | – | – | 1,097.9 | – | 1,097.9 | PDF p. 143 |
| Other non-operating items$ million | 15.5 | – | (0.6) | 0.7 | 15.6 | – | 15.6 | PDF p. 143 |
| Share of profits of joint venture companies$ million | 2.8 | – | 37.3 | – | 40.1 | – | 40.1 | PDF p. 143 |
| Share of (losses)/profits of associated companies$ million | (64.2) | – | 81.3 | – | 17.1 | – | 17.1 | PDF p. 143 |
| Taxation$ million | (143.4) | (6.3) | (5.7) | 2.8 | (152.6) | – | (152.6) | PDF p. 143 |
| Profit/(Loss) for the financial year$ million | 2,639.0 | 22.2 | 141.6 | (0.3) | 2,802.5 | 9.7 | 2,812.2 | PDF p. 143 |
Original report: PDF p. 143 ↗
* Relates to inter-segment transactions eliminated on consolidation.
Attributable-to rows are printed only in the Consolidated column.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026FSC, as at 31 March 2026 | 2026LCC, as at 31 March 2026 | 2026Engineering services, as at 31 March 2026 | 2026Others, as at 31 March 2026 | 2026Total of segments, as at 31 March 2026 | 2026Elimination, as at 31 March 2026 | 2026Consolidated, as at 31 March 2026 | Source |
|---|---|---|---|---|---|---|---|---|
| AS AT 31 MARCH 2026 | ||||||||
| Segment assets$ million | 35,201.9 | 5,727.4 | 1,368.2 | 366.6 | 42,664.1 | (1,668.3) | 40,995.8 | PDF p. 144 |
| Investments in associated and joint venture companies$ million | 1,479.5 | – | 897.8 | – | 2,377.3 | – | 2,377.3 | PDF p. 144 |
| Long-term investments$ million | 39.6 | – | – | – | 39.6 | – | 39.6 | PDF p. 144 |
| Total assets$ million | 36,721.0 | 5,727.4 | 2,266.0 | 366.6 | 45,081.0 | (1,668.3) | 43,412.7 | PDF p. 144 |
| Segment liabilities$ million | 11,332.1 | 1,112.6 | 312.7 | 144.2 | 12,901.6 | (1,808.4) | 11,093.2 | PDF p. 144 |
| Lease liabilities$ million | 1,823.9 | 1,014.1 | 155.8 | 10.7 | 3,004.5 | (26.5) | 2,978.0 | PDF p. 144 |
| Long-term liabilities$ million | 187.8 | 0.2 | – | – | 188.0 | – | 188.0 | PDF p. 144 |
| Provisions$ million | 688.5 | 550.4 | 8.2 | 2.7 | 1,249.8 | (0.5) | 1,249.3 | PDF p. 144 |
| Defined benefit plans$ million | 49.6 | – | 6.4 | – | 56.0 | – | 56.0 | PDF p. 144 |
| Borrowings$ million | 7,541.4 | 107.3 | 5.4 | 12.6 | 7,666.7 | – | 7,666.7 | PDF p. 144 |
| Tax liabilities$ million | 2,445.8 | 33.7 | (0.5) | 16.5 | 2,495.5 | – | 2,495.5 | PDF p. 144 |
| Total liabilities$ million | 24,069.1 | 2,818.3 | 488.0 | 186.7 | 27,562.1 | (1,835.4) | 25,726.7 | PDF p. 144 |
| Capital expenditure$ million | 1,868.1 | 721.0 | 36.9 | 2.5 | 2,628.5 | – | 2,628.5 | PDF p. 144 |
| Purchase of intangible assets$ million | 93.4 | 13.5 | 11.3 | 2.2 | 120.4 | – | 120.4 | PDF p. 144 |
| Depreciation$ million | 2,011.7 | 403.8 | 59.1 | 4.0 | 2,478.6 | (13.0) | 2,465.6 | PDF p. 144 |
| Amortisation of intangible assets$ million | 58.7 | 6.9 | 7.9 | 2.3 | 75.8 | – | 75.8 | PDF p. 144 |
| Non-cash items other than depreciation and amortisation of intangible assets$ million | 55.8 | 8.8 | 8.6 | (2.2) | 71.0 | – | 71.0 | PDF p. 144 |
Original report: PDF p. 144 ↗
* Relates to inter-segment transactions eliminated on consolidation.
Capital expenditure, depreciation and other lines are printed beneath the 'AS AT 31 MARCH 2026' block; Capital expenditure/Depreciation/Amortisation/Non-cash items are flows for the year, not balances.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025FSC, as at 31 March 2025 | 2025LCC, as at 31 March 2025 | 2025Engineering services, as at 31 March 2025 | 2025Others, as at 31 March 2025 | 2025Total of segments, as at 31 March 2025 | 2025Elimination, as at 31 March 2025 | 2025Consolidated, as at 31 March 2025 | Source |
|---|---|---|---|---|---|---|---|---|
| AS AT 31 MARCH 2025 | ||||||||
| Segment assets$ million | 34,748.2 | 5,944.3 | 1,294.0 | 588.3 | 42,574.8 | (2,727.1) | 39,847.7 | PDF p. 145 |
| Investments in associated and joint venture companies$ million | 2,367.0 | – | 832.6 | – | 3,199.6 | – | 3,199.6 | PDF p. 145 |
| Long-term investments$ million | 36.2 | – | – | 3.3 | 39.5 | – | 39.5 | PDF p. 145 |
| Total assets$ million | 37,151.4 | 5,944.3 | 2,126.6 | 591.6 | 45,813.9 | (2,727.1) | 43,086.8 | PDF p. 145 |
| Segment liabilities$ million | 11,760.4 | 1,077.6 | 302.0 | 153.8 | 13,293.8 | (2,693.1) | 10,600.7 | PDF p. 145 |
| Lease liabilities$ million | 2,210.7 | 1,135.5 | 80.5 | 10.5 | 3,437.2 | (33.6) | 3,403.6 | PDF p. 145 |
| Long-term liabilities$ million | 137.6 | – | – | – | 137.6 | – | 137.6 | PDF p. 145 |
| Provisions$ million | 685.6 | 657.8 | 3.5 | 2.2 | 1,349.1 | – | 1,349.1 | PDF p. 145 |
| Defined benefit plans$ million | 58.1 | – | – | – | 58.1 | – | 58.1 | PDF p. 145 |
| Borrowings$ million | 9,337.8 | 155.0 | 4.7 | 13.2 | 9,510.7 | – | 9,510.7 | PDF p. 145 |
| Tax liabilities$ million | 1,955.5 | (11.1) | (5.6) | 18.2 | 1,957.0 | – | 1,957.0 | PDF p. 145 |
| Total liabilities$ million | 26,145.7 | 3,014.8 | 385.1 | 197.9 | 29,743.5 | (2,726.7) | 27,016.8 | PDF p. 145 |
| Capital expenditure$ million | 1,316.0 | 394.1 | 52.9 | 5.0 | 1,768.0 | – | 1,768.0 | PDF p. 145 |
| Purchase of intangible assets$ million | 80.7 | 10.3 | 11.5 | 3.2 | 105.7 | – | 105.7 | PDF p. 145 |
| Depreciation$ million | 1,910.3 | 354.1 | 57.2 | 3.3 | 2,324.9 | (16.7) | 2,308.2 | PDF p. 145 |
| Amortisation of intangible assets$ million | 60.0 | 4.6 | 6.5 | 1.7 | 72.8 | – | 72.8 | PDF p. 145 |
| Non-cash items other than depreciation and amortisation of intangible assets$ million | 31.5 | 3.4 | 3.8 | 0.4 | 39.1 | – | 39.1 | PDF p. 145 |
Original report: PDF p. 145 ↗
* Relates to inter-segment transactions eliminated on consolidation.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026By area of original sale, FY2025/26 | 2025By area of original sale, FY2024/25 | 2026By route region, FY2025/26 | 2025By route region, FY2024/25 | Source |
|---|---|---|---|---|---|
| Geographical segments | |||||
| East Asia$ million | 10,439.7 | 9,940.5 | 7,101.1 | 6,582.5 | PDF p. 146 |
| Europe$ million | 2,665.9 | 2,513.5 | 3,771.3 | 3,471.1 | PDF p. 146 |
| South West Pacific$ million | 2,984.2 | 2,958.0 | 3,635.7 | 3,561.0 | PDF p. 146 |
| Americas$ million | 1,394.3 | 1,333.9 | 2,403.1 | 2,588.4 | PDF p. 146 |
| West Asia and Africa$ million | 1,368.4 | 1,329.1 | 1,941.3 | 1,872.0 | PDF p. 146 |
| Systemwide$ million | 18,852.5 | 18,075.0 | 18,852.5 | 18,075.0 | PDF p. 146 |
| Non-scheduled services and incidental revenue$ million | 1,108.7 | 1,012.2 | 1,108.7 | 1,012.2 | PDF p. 146 |
| Total airline operations revenue$ million | 19,961.2 | 19,087.2 | 19,961.2 | 19,087.2 | PDF p. 146 |
Original report: PDF p. 146 ↗
The following table presents revenue information on airline operations by geographical areas for the financial years ended 31 March 2026 and 2025.
No single customer contributed to more than 10% of the Group’s revenue during the financial years ended 31 March 2026 and 2025.
The final total row has no printed label; the label used is a descriptor.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026The Group, 31 March | 2025The Group, 31 March | 2026The Company, 31 March | 2025The Company, 31 March | Source |
|---|---|---|---|---|---|
| Current Liabilities – Borrowings | |||||
| Notes payable$ million | 1,275.6 | 700.0 | 1,275.6 | 700.0 | PDF p. 158 |
| Loans$ million | 680.9 | 675.7 | 617.3 | 613.0 | PDF p. 158 |
| Convertible bonds$ million | – | 837.7 | – | 837.7 | PDF p. 158 |
| Total current borrowings (unlabelled subtotal)$ million | 1,956.5 | 2,213.4 | 1,892.9 | 2,150.7 | PDF p. 158 |
| Non-current Liabilities – Borrowings | |||||
| Notes payable$ million | 3,112.5 | 3,965.2 | 3,112.5 | 3,965.2 | PDF p. 158 |
| Loans$ million | 2,597.7 | 3,332.1 | 2,536.0 | 3,221.9 | PDF p. 158 |
| Total non-current borrowings (unlabelled subtotal)$ million | 5,710.2 | 7,297.3 | 5,648.5 | 7,187.1 | PDF p. 158 |
Original report: PDF p. 158 ↗
Notes payable as at 31 March 2026 comprised unsecured notes issued by the Company.
Subtotal rows have no printed label.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026The Group, 31 March | 2025The Group, 31 March | 2026The Company, 31 March | 2025The Company, 31 March | Source |
|---|---|---|---|---|---|
| Non-current | |||||
| LONG-TERM LEASE LIABILITIES$ million | 2,530.9 | 2,866.7 | 1,540.7 | 1,827.8 | PDF p. 121 |
| BORROWINGS$ million | 5,710.2 | 7,297.3 | 5,648.5 | 7,187.1 | PDF p. 121 |
| Current liabilities | |||||
| Borrowings$ million | 1,956.5 | 2,213.4 | 1,892.9 | 2,150.7 | PDF p. 121 |
| Lease liabilities$ million | 447.1 | 536.9 | 283.2 | 382.9 | PDF p. 121 |
Original report: PDF p. 121 ↗
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Face value, 31 March 2026 | 2026Carrying value, 31 March 2026 | 2025Face value, 31 March 2025 | 2025Carrying value, 31 March 2025 | Source |
|---|---|---|---|---|---|
| SGD, fixed 3.035% per annum, year of maturity 2025 | |||||
| 005$ million | – | – | 700.0 | 700.0 | PDF p. 158 |
| SGD, fixed 3.13% per annum, year of maturity 2027 | |||||
| 006$ million | 700.0 | 699.8 | 700.0 | 699.6 | PDF p. 158 |
| SGD, fixed 3.50% per annum, year of maturity 2030 | |||||
| 008$ million | 500.0 | 499.5 | 500.0 | 499.4 | PDF p. 158 |
| USD, fixed 3.00% per annum, year of maturity 2026 | |||||
| 009$ million | 645.6 | 645.4 | 670.2 | 669.1 | PDF p. 158 |
| USD, fixed 3.375% per annum, year of maturity 2029 | |||||
| 010$ million | 774.7 | 771.6 | 804.2 | 799.9 | PDF p. 158 |
| USD, fixed 5.25% per annum, year of maturity 2034 | |||||
| 011$ million | 645.6 | 642.6 | 670.2 | 666.7 | PDF p. 158 |
| SGD, fixed 2.70% per annum, year of maturity 2036 | |||||
| 012$ million | 500.0 | 499.0 | – | – | PDF p. 158 |
| Notes payable total | |||||
| Total (unlabelled)$ million | 4,395.9 | 4,388.1 | 4,674.6 | 4,665.2 | PDF p. 158 |
Original report: PDF p. 158 ↗
* Comprised $430.0 million in aggregate principal amount issued on 17 November 2016 and $200.0 million in aggregate principal amount issued on 17 October 2017 that was consolidated into Series 004.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Face value, 31 March 2026 | 2026Carrying value, 31 March 2026 | 2025Face value, 31 March 2025 | 2025Carrying value, 31 March 2025 | Source |
|---|---|---|---|---|---|
| Fixed Rate; SGD 2.86% maturity 2028 | |||||
| Secured bank loan$ million | 249.5 | 249.3 | 344.4 | 344.1 | PDF p. 159 |
| Fixed Rate; SGD 2.92% maturity 2028 | |||||
| Secured bank loan$ million | 108.0 | 107.3 | 156.0 | 155.0 | PDF p. 159 |
| Fixed Rate; SGD 2.62% maturity 2029 | |||||
| Secured bank loan$ million | 295.0 | 294.8 | 388.4 | 387.9 | PDF p. 159 |
| Fixed Rate; SGD 0.34% maturity 2029 | |||||
| Secured bank loan$ million | 56.3 | 56.2 | 71.3 | 71.2 | PDF p. 159 |
| Fixed Rate; SGD 0.35% maturity 2029 | |||||
| Secured bank loan$ million | 60.1 | 60.0 | 75.3 | 75.2 | PDF p. 159 |
| Fixed Rate; SGD 2.10% maturity 2030 | |||||
| Secured bank loan$ million | 180.0 | 179.3 | 210.0 | 209.0 | PDF p. 159 |
| Fixed Rate; SGD 2.19% maturity 2030 | |||||
| Secured bank loan$ million | 149.8 | 149.4 | 181.2 | 180.5 | PDF p. 159 |
| Fixed Rate; SGD 2.14% maturity 2030 | |||||
| Secured bank loan$ million | 74.8 | 74.5 | 90.5 | 90.0 | PDF p. 159 |
| Fixed Rate; SGD 1.92% maturity 2030 | |||||
| Secured bank loan$ million | 142.1 | 141.4 | 172.1 | 171.0 | PDF p. 159 |
| Fixed Rate; SGD 1.98% maturity 2030 | |||||
| Secured bank loan$ million | 74.5 | 74.3 | 90.2 | 89.8 | PDF p. 159 |
| Fixed Rate; SGD 2.07% maturity 2030 | |||||
| Secured bank loan$ million | 82.6 | 82.4 | 98.1 | 97.8 | PDF p. 159 |
| Fixed Rate; SGD 2.24% maturity 2031 | |||||
| Secured bank loan$ million | 82.9 | 82.6 | 98.4 | 98.0 | PDF p. 159 |
| Fixed Rate; SGD 2.15% maturity 2032 (first row) | |||||
| Secured bank loan$ million | 173.6 | 172.6 | 198.3 | 197.2 | PDF p. 159 |
| Fixed Rate; SGD 2.15% maturity 2032 (second row) | |||||
| Secured bank loan$ million | 152.7 | 151.7 | 174.4 | 173.1 | PDF p. 159 |
| Fixed Rate; EUR 0.46% maturity 2029 | |||||
| Secured bank loan$ million | 56.3 | 56.3 | 69.5 | 69.5 | PDF p. 159 |
| Fixed Rate; EUR 0.65% – 0.68% maturity 2029 – 2030 | |||||
| Secured bank loan$ million | 351.1 | 350.8 | 430.3 | 429.8 | PDF p. 159 |
| Fixed Rate; JPY 0.41% maturity 2029 | |||||
| Secured bank loan$ million | 70.6 | 70.5 | 98.4 | 98.3 | PDF p. 159 |
| Fixed Rate; JPY 0.93% – 1.35% maturity 2033 – 2034 | |||||
| Aircraft leasing loans$ million | 677.6 | 675.0 | 819.4 | 816.0 | PDF p. 159 |
| Fixed Rate; USD 1.69% – 1.85% maturity 2033 – 2034 | |||||
| Aircraft leasing loans$ million | 234.1 | 232.2 | 238.8 | 236.5 | PDF p. 159 |
| Floating rate; USD 5.81% maturity 2025 | |||||
| Revolving credit facility$ million | – | – | 0.7 | 0.7 | PDF p. 159 |
| Floating rate; USD 5.25% maturity 2026 | |||||
| Revolving credit facility$ million | 2.3 | 2.3 | – | – | PDF p. 159 |
| Floating rate; USD 5.81% maturity 2028 | |||||
| Term loan drawndown$ million | 3.1 | 3.1 | 4.0 | 4.0 | PDF p. 159 |
| Floating rate; SGD 4.60% maturity 2025 | |||||
| Revolving credit facility$ million | – | – | 3.0 | 3.0 | PDF p. 159 |
| Floating rate; SGD 4.45% maturity 2025 | |||||
| Revolving credit facility$ million | – | – | 8.0 | 8.0 | PDF p. 159 |
| Floating rate; SGD 3.10% maturity 2026 | |||||
| Revolving credit facility$ million | 3.0 | 3.0 | – | – | PDF p. 159 |
| Floating rate; SGD 3.05% maturity 2026 | |||||
| Revolving credit facility$ million | 8.1 | 8.1 | – | – | PDF p. 159 |
| Floating rate; SGD 2.66% maturity 2025 | |||||
| Trust receipt$ million | – | – | 2.2 | 2.2 | PDF p. 159 |
| Floating rate; SGD 1.08% maturity 2026 | |||||
| Trust receipt$ million | 1.5 | 1.5 | – | – | PDF p. 159 |
| Loans total | |||||
| Total loans (unlabelled)$ million | 3,289.6 | 3,278.6 | 4,022.9 | 4,007.8 | PDF p. 159 |
Original report: PDF p. 159 ↗
Rate, currency and maturity-year columns are recorded in the section field of each row.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Face value, 31 March 2026 | 2026Carrying value, 31 March 2026 | 2025Face value, 31 March 2025 | 2025Carrying value, 31 March 2025 | Source |
|---|---|---|---|---|---|
| Fixed Rate; SGD 2.86% maturity 2028 | |||||
| Secured bank loan$ million | 249.5 | 249.3 | 344.4 | 344.1 | PDF p. 160 |
| Fixed Rate; SGD 2.62% maturity 2029 | |||||
| Secured bank loan$ million | 295.0 | 294.8 | 388.4 | 387.9 | PDF p. 160 |
| Fixed Rate; SGD 0.34% maturity 2029 | |||||
| Secured bank loan$ million | 56.3 | 56.2 | 71.3 | 71.2 | PDF p. 160 |
| Fixed Rate; SGD 0.35% maturity 2029 | |||||
| Secured bank loan$ million | 60.1 | 60.0 | 75.3 | 75.2 | PDF p. 160 |
| Fixed Rate; SGD 2.10% maturity 2030 | |||||
| Secured bank loan$ million | 180.0 | 179.3 | 210.0 | 209.0 | PDF p. 160 |
| Fixed Rate; SGD 2.19% maturity 2030 | |||||
| Secured bank loan$ million | 149.8 | 149.4 | 181.2 | 180.5 | PDF p. 160 |
| Fixed Rate; SGD 2.14% maturity 2030 | |||||
| Secured bank loan$ million | 74.8 | 74.5 | 90.5 | 90.0 | PDF p. 160 |
| Fixed Rate; SGD 1.92% maturity 2030 | |||||
| Secured bank loan$ million | 142.1 | 141.4 | 172.1 | 171.0 | PDF p. 160 |
| Fixed Rate; SGD 1.98% maturity 2030 | |||||
| Secured bank loan$ million | 74.5 | 74.3 | 90.2 | 89.8 | PDF p. 160 |
| Fixed Rate; SGD 2.07% maturity 2030 | |||||
| Secured bank loan$ million | 82.6 | 82.4 | 98.1 | 97.8 | PDF p. 160 |
| Fixed Rate; SGD 2.24% maturity 2031 | |||||
| Secured bank loan$ million | 82.9 | 82.6 | 98.4 | 98.0 | PDF p. 160 |
| Fixed Rate; SGD 2.15% maturity 2032 (first row) | |||||
| Secured bank loan$ million | 173.6 | 172.6 | 198.3 | 197.2 | PDF p. 160 |
| Fixed Rate; SGD 2.15% maturity 2032 (second row) | |||||
| Secured bank loan$ million | 152.7 | 151.7 | 174.4 | 173.1 | PDF p. 160 |
| Fixed Rate; EUR 0.46% maturity 2029 | |||||
| Secured bank loan$ million | 56.3 | 56.3 | 69.5 | 69.5 | PDF p. 160 |
| Fixed Rate; EUR 0.65% – 0.68% maturity 2029 – 2030 | |||||
| Secured bank loan$ million | 351.1 | 350.8 | 430.3 | 429.8 | PDF p. 160 |
| Fixed Rate; JPY 0.41% maturity 2029 | |||||
| Secured bank loan$ million | 70.6 | 70.5 | 98.4 | 98.3 | PDF p. 160 |
| Fixed Rate; JPY 0.93% – 1.35% maturity 2033 – 2034 | |||||
| Aircraft leasing loans$ million | 677.6 | 675.0 | 819.4 | 816.0 | PDF p. 160 |
| Fixed Rate; USD 1.69% – 1.85% maturity 2033 – 2034 | |||||
| Aircraft leasing loans$ million | 234.1 | 232.2 | 238.8 | 236.5 | PDF p. 160 |
| Loans total | |||||
| Total loans (unlabelled)$ million | 3,163.6 | 3,153.3 | 3,849.0 | 3,834.9 | PDF p. 160 |
Original report: PDF p. 160 ↗
The Group uses interest rate swaps to hedge the variability of future interest payments on a floating rate loan attributable to movements in the relevant benchmark interest rates. As at 31 March 2026, the Group and the Company had floating rate loans with nominal amounts of $2,213.0 million (2025: $2,755.1 million) and $2,105.0 million (2025: $2,599.1 million) which are hedged with interest rate swaps (refer to note 41(c)).
The Company has no floating rate loans listed.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026The Group and the Company | 2025The Group and the Company | Source |
|---|---|---|---|
| Convertible bonds | |||
| Balance at 1 April$ million | 837.7 | 820.4 | PDF p. 161 |
| Amortised bond principal$ million | 2.7 | 15.5 | PDF p. 161 |
| Amortised transaction costs$ million | 1.3 | 1.8 | PDF p. 161 |
| Conversion of convertible bonds$ million | (841.7) | – | PDF p. 161 |
| Balance at 31 March$ million | – | 837.7 | PDF p. 161 |
Original report: PDF p. 161 ↗
The 1.625% convertible bonds issued on 3 December 2020 were due on 24 November 2025. As at 31 March 2026, the convertible bonds were fully converted into ordinary shares and the equity conversion component of $74.3 million was reclassified into share capital.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026Within 1 year | 20261–2 years | 20262–3 years | 20263–4 years | 20264–5 years | 2026More than 5 years | 2026Total | Source |
|---|---|---|---|---|---|---|---|---|
| The Group | ||||||||
| Notes payable$ million | 1,418.4 | 802.5 | 866.3 | 65.4 | 565.4 | 1,316.3 | 5,034.3 | PDF p. 203 |
| Loans$ million | 719.6 | 704.2 | 612.0 | 419.4 | 275.7 | 696.2 | 3,427.1 | PDF p. 203 |
| Lease liabilities$ million | 523.2 | 518.1 | 483.6 | 434.6 | 406.7 | 1,157.0 | 3,523.2 | PDF p. 203 |
| The Company | ||||||||
| Notes payable$ million | 1,418.4 | 802.5 | 866.3 | 65.4 | 565.4 | 1,316.3 | 5,034.3 | PDF p. 203 |
| Loans$ million | 653.2 | 652.6 | 599.9 | 419.4 | 275.7 | 696.2 | 3,297.0 | PDF p. 203 |
| Lease liabilities$ million | 301.2 | 317.7 | 307.3 | 272.1 | 258.2 | 700.3 | 2,156.8 | PDF p. 203 |
Original report: PDF p. 203 ↗
Table also lists other financial liabilities (trade and other creditors, derivatives), not extracted. Amounts are contractual undiscounted cash flows including interest.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2025Within 1 year | 20251–2 years | 20252–3 years | 20253–4 years | 20254–5 years | 2025More than 5 years | 2025Total | Source |
|---|---|---|---|---|---|---|---|---|
| The Group | ||||||||
| Notes payable$ million | 852.6 | 1,432.1 | 791.3 | 884.5 | 53.2 | 1,330.4 | 5,344.1 | PDF p. 203 |
| Convertible bonds$ million | 863.6 | – | – | – | – | – | 863.6 | PDF p. 203 |
| Loans$ million | 729.9 | 714.0 | 713.5 | 621.2 | 428.0 | 1,025.3 | 4,231.9 | PDF p. 203 |
| Lease liabilities$ million | 769.0 | 544.0 | 453.4 | 436.2 | 419.3 | 1,534.5 | 4,156.4 | PDF p. 203 |
| The Company | ||||||||
| Notes payable$ million | 852.6 | 1,432.1 | 791.3 | 884.5 | 53.2 | 1,330.4 | 5,344.1 | PDF p. 203 |
| Convertible bonds$ million | 863.6 | – | – | – | – | – | 863.6 | PDF p. 203 |
| Loans$ million | 663.0 | 662.4 | 661.8 | 609.1 | 428.0 | 1,025.3 | 4,049.6 | PDF p. 203 |
| Lease liabilities$ million | 548.3 | 341.3 | 284.0 | 274.9 | 272.0 | 979.6 | 2,700.1 | PDF p. 203 |
Original report: PDF p. 203 ↗
Table also lists other financial liabilities, not extracted. Amounts are contractual undiscounted cash flows.
Units appear below each metric. Scroll to compare years
| Metric / unit | 2026The Group, 31 March | 2025The Group, 31 March | 2026The Company, 31 March | 2025The Company, 31 March | Source |
|---|---|---|---|---|---|
| Total debt | |||||
| Notes payable$ million | 4,388.1 | 4,665.2 | 4,388.1 | 4,665.2 | PDF p. 205 |
| Convertible bonds$ million | – | 837.7 | – | 837.7 | PDF p. 205 |
| Loans$ million | 3,278.6 | 4,007.8 | 3,153.3 | 3,834.9 | PDF p. 205 |
| Lease liabilities$ million | 2,978.0 | 3,403.6 | 1,823.9 | 2,210.7 | PDF p. 205 |
| Total debt$ million | 10,644.7 | 12,914.3 | 9,365.3 | 11,548.5 | PDF p. 205 |
| Gearing ratio (times)times | 0.62 | 0.82 | 0.52 | 0.70 | PDF p. 205 |
Original report: PDF p. 205 ↗
The Group monitors capital using a gearing ratio, which is total debt divided by total capital.
Payout
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Interim dividend of 5.0 cents per share in respect of FY2025/26 | 5.0 cents per share | Declared and paid, FY2025/26, tax exempt (one-tier), Group and Company | PDF p. 153 |
| Special dividend of 3.0 cents per share in respect of FY2025/26 | 3.0 cents per share | Declared and paid, FY2025/26, tax exempt (one-tier), Group and Company | PDF p. 153 |
| tax exempt (one-tier) special dividend of 7.0 cents | 7.0 cents per share | Proposed, FY2025/26, tax exempt (one-tier) | PDF p. 153 |
| Final dividend of 30.0 cents per share in respect of FY2024/25 | 30.0 cents per share | Comparative year FY2024/25 final dividend, paid in FY2025/26, tax exempt (one-tier) | PDF p. 153 |
| (FY2024/25: 10.0 cents per share in respect of FY2024/25) | 10.0 cents per share | Comparative year FY2024/25 interim dividend, tax exempt (one-tier) | PDF p. 153 |
| Notice of Record Date and Payment Date | 12 August 2026 | Final and special dividends for FY2025/26 · As at 2026-08-12 | PDF p. 226 |
| Notice of Record Date and Payment Date | 28 August 2026 | Final and special dividends for FY2025/26 · As at 2026-08-28 | PDF p. 226 |
Extracted from Annual report and checked against the cited pages; see the original report for full context.
Auditor’s report
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Audit firm | KPMG LLP | Group and Company, year ended 31 March 2026 | PDF p. 118 |
| Engagement partner | Malcolm Ramsay | Group and Company | PDF p. 118 |
| Opinion | properly drawn up in accordance with the provisions of the Companies Act 1967 | Group and Company, as at and for the year ended 31 March 2026 | PDF p. 113 |
Extracted from Annual report and checked against the cited pages; see the original report for full context.
Group and parent company or bank figures are labelled separately. Parentheses indicate negative amounts; a dash and NA retain the report’s notation.
Comparative figures follow Annual report, including retrospective adjustments. Adjusted and reported earnings may have different definitions; refer to each statement’s notes.
These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.