SIA C6L

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Financials

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Consolidated Profit and Loss Account

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Consolidated Profit and Loss Account from Annual report
Metric / unit 2026Group2025Group Source
Income statement
REVENUE$ million 20,522.019,539.8 PDF p. 119
Expenditure
Staff costs$ million 3,927.53,764.5 PDF p. 119
Fuel costs$ million 5,024.95,385.5 PDF p. 119
Depreciation$ million 2,465.62,308.2 PDF p. 119
Amortisation of intangible assets$ million 75.872.8 PDF p. 119
Aircraft maintenance and overhaul costs$ million 827.1643.5 PDF p. 119
Commission and incentives$ million 504.2505.1 PDF p. 119
Landing, parking and overflying charges$ million 990.3909.1 PDF p. 119
Handling charges$ million 1,519.41,390.4 PDF p. 119
Emission charges$ million 64.545.3 PDF p. 119
Rentals on leased aircraft and engines$ million 4.82.0 PDF p. 119
Inflight meals$ million 778.8741.5 PDF p. 119
Advertising and sales costs$ million 333.0325.4 PDF p. 119
Company accommodation and utilities$ million 51.950.7 PDF p. 119
Other passenger costs$ million 245.6240.6 PDF p. 119
Crew expenses$ million 173.5164.3 PDF p. 119
Other operating expenses$ million 1,160.61,281.8 PDF p. 119
Expenditure subtotal
Subtotal$ million 18,147.517,830.7 PDF p. 119
Income statement
OPERATING PROFIT$ million 2,374.51,709.1 PDF p. 119
Finance charges$ million (334.5)(395.5) PDF p. 119
Interest income$ million 289.4492.0 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 0.12.1 PDF p. 119
Gain on disposal of an associated company$ million –1,097.9 PDF p. 119
Other non-operating items$ million 84.115.6 PDF p. 119
Share of profits of joint venture companies$ million 36.140.1 PDF p. 119
Share of (losses)/profits of associated companies$ million (828.5)17.1 PDF p. 119
PROFIT BEFORE TAXATION$ million 1,617.52,964.8 PDF p. 119
TAXATION$ million (394.5)(152.6) PDF p. 119
PROFIT FOR THE FINANCIAL YEAR$ million 1,223.02,812.2 PDF p. 119
Profit attributable to
OWNERS OF THE COMPANY$ million 1,184.02,778.0 PDF p. 119
NON-CONTROLLING INTERESTS$ million 39.034.2 PDF p. 119
Profit attributable subtotal
Subtotal$ million 1,223.02,812.2 PDF p. 119
Per-share measures
EARNINGS PER SHARE (CENTS)cents per share 38.489.3 PDF p. 119
DILUTED EARNINGS PER SHARE (CENTS)cents per share 38.285.3 PDF p. 119
Definitions & sources

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.

Consolidated Statement of Comprehensive Income

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Consolidated Statement of Comprehensive Income from Annual report
Metric / unit 2026Group2025Group Source
Comprehensive income
PROFIT FOR THE FINANCIAL YEAR$ million 1,223.02,812.2 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 0.212.0 PDF p. 120
Share of gain on property revaluation of an associated company$ million 6.211.4 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 1,970.52,534.5 PDF p. 120
Total comprehensive income attributable to
OWNERS OF THE COMPANY$ million 1,937.92,501.5 PDF p. 120
NON-CONTROLLING INTERESTS$ million 32.633.0 PDF p. 120
Total comprehensive income attributable subtotal
Subtotal$ million 1,970.52,534.5 PDF p. 120
Definitions & sources

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.

Statements of Financial Position

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Statements of Financial Position from Annual report
Metric / unit 2026Group2025Group Source
Equity attributable to owners of the Company
Share capital$ million 8,096.97,180.9 PDF p. 121
Treasury shares$ million (37.1)(26.5) PDF p. 121
Other reserves$ million 9,201.98,501.8 PDF p. 121
Equity attributable to owners subtotal
Subtotal$ million 17,261.715,656.2 PDF p. 121
Equity
NON-CONTROLLING INTERESTS$ million 424.3413.8 PDF p. 121
TOTAL EQUITY$ million 17,686.016,070.0 PDF p. 121
Liabilities
DEFERRED ACCOUNT$ million 113.374.3 PDF p. 121
DEFERRED TAXATION$ million 2,452.01,884.5 PDF p. 121
LONG-TERM LEASE LIABILITIES$ million 2,530.92,866.7 PDF p. 121
BORROWINGS$ million 5,710.27,297.3 PDF p. 121
OTHER LONG-TERM LIABILITIES$ million 188.0137.6 PDF p. 121
PROVISIONS$ million 786.2743.2 PDF p. 121
DEFINED BENEFIT PLANS$ million 56.058.1 PDF p. 121
Liabilities subtotal
Subtotal$ million 29,522.629,131.7 PDF p. 121
Assets
PROPERTY, PLANT AND EQUIPMENT$ million 24,095.623,480.9 PDF p. 121
RIGHT-OF-USE ASSETS$ million 2,805.93,087.4 PDF p. 121
INTANGIBLE ASSETS$ million 385.4338.6 PDF p. 121
SUBSIDIARY COMPANIES$ million –– PDF p. 121
ASSOCIATED COMPANIES$ million 2,018.82,865.2 PDF p. 121
JOINT VENTURE COMPANIES$ million 358.5334.4 PDF p. 121
LONG-TERM INVESTMENTS$ million 39.639.5 PDF p. 121
OTHER LONG-TERM ASSETS$ million 267.91,544.8 PDF p. 121
Current assets
Derivative assets$ million 830.6106.1 PDF p. 121
Inventories$ million 356.1344.9 PDF p. 121
Trade debtors$ million 1,648.71,229.9 PDF p. 121
Amounts owing by subsidiary companies$ million –– PDF p. 121
Deposits and other debtors$ million 242.1272.6 PDF p. 121
Prepayments$ million 102.1109.9 PDF p. 121
Other short-term assets$ million 1,729.6536.5 PDF p. 121
Investments$ million 578.3519.7 PDF p. 121
Restricted cash balances$ million 22.319.2 PDF p. 121
Cash and bank balances$ million 7,931.28,257.1 PDF p. 121
Assets held for sale$ million –0.1 PDF p. 121
Current assets subtotal
Subtotal$ million 13,441.011,396.0 PDF p. 121
Current liabilities
Borrowings$ million 1,956.52,213.4 PDF p. 121
Lease liabilities$ million 447.1536.9 PDF p. 121
Current tax payable$ million 43.572.5 PDF p. 121
Trade and other creditors$ million 4,584.64,628.4 PDF p. 121
Amounts owing to subsidiary companies$ million –– PDF p. 121
Sales in advance of carriage$ million 4,903.14,533.2 PDF p. 121
Deferred revenue$ million 1,415.31,260.6 PDF p. 121
Deferred account$ million 16.313.2 PDF p. 121
Derivative liabilities$ million 60.691.0 PDF p. 121
Provisions$ million 463.1605.9 PDF p. 121
Current liabilities subtotal
Subtotal$ million 13,890.113,955.1 PDF p. 121
Balance sheet
NET CURRENT LIABILITIES$ million (449.1)(2,559.1) PDF p. 121
Balance sheet total
Subtotal$ million 29,522.629,131.7 PDF p. 121
Definitions & sources

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.

Statements of Financial Position

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Statements of Financial Position from Annual report
Metric / unit 2026Company2025Company Source
Equity attributable to owners of the Company
Share capital$ million 8,096.97,180.9 PDF p. 121
Treasury shares$ million (37.1)(26.5) PDF p. 121
Other reserves$ million 9,802.99,341.7 PDF p. 121
Equity attributable to owners subtotal
Subtotal$ million 17,862.716,496.1 PDF p. 121
Equity
NON-CONTROLLING INTERESTS$ million –– PDF p. 121
TOTAL EQUITY$ million 17,862.716,496.1 PDF p. 121
Liabilities
DEFERRED ACCOUNT$ million 112.874.3 PDF p. 121
DEFERRED TAXATION$ million 2,424.21,912.0 PDF p. 121
LONG-TERM LEASE LIABILITIES$ million 1,540.71,827.8 PDF p. 121
BORROWINGS$ million 5,648.57,187.1 PDF p. 121
OTHER LONG-TERM LIABILITIES$ million 187.8137.6 PDF p. 121
PROVISIONS$ million 337.6354.2 PDF p. 121
DEFINED BENEFIT PLANS$ million 49.658.1 PDF p. 121
Liabilities subtotal
Subtotal$ million 28,163.928,047.2 PDF p. 121
Assets
PROPERTY, PLANT AND EQUIPMENT$ million 20,352.220,333.2 PDF p. 121
RIGHT-OF-USE ASSETS$ million 1,683.51,936.1 PDF p. 121
INTANGIBLE ASSETS$ million 308.6275.4 PDF p. 121
SUBSIDIARY COMPANIES$ million 5,481.05,702.0 PDF p. 121
ASSOCIATED COMPANIES$ million 1,177.02,137.9 PDF p. 121
JOINT VENTURE COMPANIES$ million 32.332.3 PDF p. 121
LONG-TERM INVESTMENTS$ million 39.636.2 PDF p. 121
OTHER LONG-TERM ASSETS$ million 227.71,486.6 PDF p. 121
Current assets
Derivative assets$ million 830.6105.9 PDF p. 121
Inventories$ million 275.5271.8 PDF p. 121
Trade debtors$ million 1,379.31,020.5 PDF p. 121
Amounts owing by subsidiary companies$ million 0.7100.7 PDF p. 121
Deposits and other debtors$ million 181.4164.2 PDF p. 121
Prepayments$ million 75.478.9 PDF p. 121
Other short-term assets$ million 1,729.6536.5 PDF p. 121
Investments$ million 516.1463.4 PDF p. 121
Restricted cash balances$ million –– PDF p. 121
Cash and bank balances$ million 7,641.37,960.1 PDF p. 121
Assets held for sale$ million –0.1 PDF p. 121
Current assets subtotal
Subtotal$ million 12,629.910,702.1 PDF p. 121
Current liabilities
Borrowings$ million 1,892.92,150.7 PDF p. 121
Lease liabilities$ million 283.2382.9 PDF p. 121
Current tax payable$ million 21.643.5 PDF p. 121
Trade and other creditors$ million 3,256.23,417.9 PDF p. 121
Amounts owing to subsidiary companies$ million 1,965.02,703.0 PDF p. 121
Sales in advance of carriage$ million 4,514.04,205.5 PDF p. 121
Deferred revenue$ million 1,413.91,257.8 PDF p. 121
Deferred account$ million 10.410.9 PDF p. 121
Derivative liabilities$ million 59.891.0 PDF p. 121
Provisions$ million 350.9331.4 PDF p. 121
Current liabilities subtotal
Subtotal$ million 13,767.914,594.6 PDF p. 121
Balance sheet
NET CURRENT LIABILITIES$ million (1,138.0)(3,892.5) PDF p. 121
Balance sheet total
Subtotal$ million 28,163.928,047.2 PDF p. 121
Definitions & sources

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.

Consolidated Statement of Cash Flows

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Consolidated Statement of Cash Flows from Annual report
Metric / unit 2026Group2025Group Source
Cash flow from operating activities
Profit before taxation$ million 1,617.52,964.8 PDF p. 128
Cash flow from operating activities; adjustments
Depreciation$ million 2,465.62,308.2 PDF p. 128
Amortisation of intangible assets$ million 75.872.8 PDF p. 128
Impairment/(Write-back of impairment) of trade debtors$ million 4.8(4.7) PDF p. 128
Write-down of inventories$ million 5.411.2 PDF p. 128
Income from short-term investments$ million (1.6)(1.6) PDF p. 128
Provisions$ million 219.0165.9 PDF p. 128
Share-based compensation expense$ million 28.125.2 PDF p. 128
Exchange differences$ million 40.356.8 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 0.50.3 PDF p. 128
Finance charges$ million 334.5395.5 PDF p. 128
Interest income$ million (289.4)(492.0) PDF p. 128
Loss on disposal of aircraft, spares and spare engines$ million 3.713.6 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 5,211.04,370.9 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 37.1107.0 PDF p. 128
Decrease in prepayments$ million 7.844.0 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 154.7232.6 PDF p. 128
Cash flow from operating activities
Cash generated from operations$ million 5,113.84,719.0 PDF p. 128
Income taxes paid$ million (10.8)(11.3) PDF p. 128
NET CASH PROVIDED BY OPERATING ACTIVITIES$ million 5,103.04,707.7 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 3.40.5 PDF p. 129
Proceeds from disposal of assets held for sale$ million 0.60.4 PDF p. 129
Purchase of long-term investments$ million (2.5)– PDF p. 129
Proceeds from disposal of long-term investments$ million 23.723.0 PDF p. 129
Purchase of short-term investments$ million (208.1)(69.6) PDF p. 129
Proceeds from disposal of short-term investments$ million 148.166.9 PDF p. 129
Dividends received from associated and joint venture companies$ million 57.947.9 PDF p. 129
Dividends received from investments$ million 0.12.1 PDF p. 129
Interest received from investments and deposits$ million 281.8480.8 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 404.1765.8 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 134.9901.7 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 8,257.111,256.0 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 7,931.28,257.1 PDF p. 129
Analysis of cash and cash equivalents
Fixed deposits$ million 6,648.56,877.4 PDF p. 129
Cash and bank balances$ million 1,282.71,379.7 PDF p. 129
CASH AND CASH EQUIVALENTS AT END OF THE FINANCIAL YEAR$ million 7,931.28,257.1 PDF p. 129
Definitions & sources

The accompanying accounting policies and explanatory notes form an integral part of the financial statements.

Statistical Highlights — Financial Results — The Group

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Statistical Highlights — Financial Results — The Group from Annual report
Metric / unit 2026FY2025/262025FY2024/25 Source
Financial Results — The Group
Total revenue$ million 20,522.019,539.8 PDF p. 10
Total expenditure$ million 18,147.517,830.7 PDF p. 10
Operating profit$ million 2,374.51,709.1 PDF p. 10
Profit before taxation$ million 1,617.52,964.8 PDF p. 10
Profit attributable to owners of the Company$ million 1,184.02,778.0 PDF p. 10
Definitions & sources

Statistical Highlights — Financial Position — The Group

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Statistical Highlights — Financial Position — The Group from Annual report
Metric / unit 2026FY2025/262025FY2024/25 Source
Financial Position — The Group
Share capital$ million 8,096.97,180.9 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 33.431.6 PDF p. 10
Fair value reserve$ million 868.8153.2 PDF p. 10
General reserve$ million 8,495.08,473.1 PDF p. 10
Equity attributable to owners of the Company$ million 17,261.715,656.2 PDF p. 10
Return on equity holders' funds% 7.217.4 PDF p. 10
Total assets$ million 43,412.743,086.8 PDF p. 10
Total debt$ million 10,644.712,914.3 PDF p. 10
Total debt : equity ratiotimes 0.620.82 PDF p. 10
Value added$ million 8,449.89,522.2 PDF p. 10
Definitions & sources

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.

Statistical Highlights — Per Share Data

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Statistical Highlights — Per Share Data from Annual report
Metric / unit 2026FY2025/262025FY2024/25 Source
Per Share Data
Earnings - basiccents 38.489.3 PDF p. 10
Earnings - dilutedcents 38.285.3 PDF p. 10
Net asset value$ per share 5.485.27 PDF p. 10
Definitions & sources

Statistical Highlights — Financial Results — The Full Service Carrier

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Statistical Highlights — Financial Results — The Full Service Carrier from Annual report
Metric / unit 2026FY2025/262025FY2024/25 Source
Financial Results — The Full Service Carrier
Total revenue$ million 17,372.216,738.0 PDF p. 10
Total expenditure$ million 15,066.015,069.1 PDF p. 10
Operating profit$ million 2,306.21,668.9 PDF p. 10
Profit before taxation$ million 1,474.92,604.7 PDF p. 10
Profit after taxation$ million 1,106.42,461.3 PDF p. 10
Value added$ million 6,741.07,803.7 PDF p. 10
Definitions & sources

Five-Year Financial Summary of the Group — Profit and loss account

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Five-Year Financial Summary of the Group — Profit and loss account from Annual report
Metric / unit 2026Group; FY2025/262025Group; FY2024/252024Group; FY2023/242023Group; FY2022/232022Group; FY2021/22 Source
Profit and loss account
Total revenue$ million 20,522.019,539.819,012.717,774.87,614.8 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 2,374.51,709.12,727.52,692.1(609.7) PDF p. 212
Finance charges$ million (334.5)(395.5)(424.5)(419.9)(391.6) PDF p. 212
Interest income$ million 289.4492.0631.7412.645.9 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 0.12.1–4.04.0 PDF p. 212
Other non-operating items$ million 84.11,113.5(36.5)(13.5)(108.4) PDF p. 212
Share of profits of joint venture companies$ million 36.140.132.831.829.8 PDF p. 212
Share of (losses)/profit of associated companies$ million (828.5)17.140.9(63.0)(145.9) PDF p. 212
Profit/(Loss) before taxation$ million 1,617.52,964.83,037.12,636.8(1,090.0) PDF p. 212
Profit/(Loss) attributable to owners of the Company$ million 1,184.02,778.02,674.82,156.8(962.0) PDF p. 212
Definitions & sources

Five-Year Financial Summary of the Group — Statement of financial position

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Five-Year Financial Summary of the Group — Statement of financial position from Annual report
Metric / unit 2026Group; FY2025/262025Group; FY2024/252024Group; FY2023/242023Group; FY2022/232022Group; FY2021/22 Source
Statement of financial position
Share capital$ million 8,096.97,180.97,180.47,180.27,180.2 PDF p. 212
Mandatory convertible bonds$ million ––1,547.56,195.19,691.2 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 33.431.632.224.320.7 PDF p. 212
Fair value reserve$ million 868.8153.2448.7506.91,076.2 PDF p. 212
General reserve$ million 8,495.08,473.17,305.76,174.04,673.6 PDF p. 212
Equity attributable to owners of the Company$ million 17,261.715,656.216,337.919,858.322,411.9 PDF p. 212
Non-controlling interests$ million 424.3413.8406.7391.5388.5 PDF p. 212
Total equity$ million 17,686.016,070.016,744.620,249.822,800.4 PDF p. 212
Property, plant and equipment$ million 24,095.623,480.923,435.823,832.524,570.6 PDF p. 212
Right-of-use assets R1$ million 2,805.93,087.43,371.03,854.53,290.1 PDF p. 212
Intangible assets$ million 385.4338.6304.5297.5303.2 PDF p. 212
Associated companies$ million 2,018.82,865.2780.5757.3805.8 PDF p. 212
Joint venture companies$ million 358.5334.4297.1265.0233.4 PDF p. 212
Long-term investments$ million 39.639.538.939.442.6 PDF p. 212
Other non-current assets$ million 267.91,544.8395.2755.71,737.2 PDF p. 212
Current assets$ million 13,441.011,396.015,641.719,299.317,688.1 PDF p. 212
Total assets$ million 43,412.743,086.844,264.749,101.248,671.0 PDF p. 212
Deferred account$ million 113.374.315.055.895.4 PDF p. 212
Deferred taxation$ million 2,452.01,884.51,802.91,430.21,064.3 PDF p. 212
Lease liabilities R1$ million 2,978.03,403.63,795.24,177.93,682.5 PDF p. 212
Other non-current liabilities$ million 6,740.48,236.29,848.310,133.913,727.5 PDF p. 212
Current liabilities$ million 13,443.013,418.212,058.713,053.67,300.9 PDF p. 212
Total liabilities$ million 25,726.727,016.827,520.128,851.425,870.6 PDF p. 212
Net assets$ million 17,686.016,070.016,744.620,249.822,800.4 PDF p. 212
Definitions & sources

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.

Five-Year Financial Summary of the Group — Cash flow

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Five-Year Financial Summary of the Group — Cash flow from Annual report
Metric / unit 2026Group; FY2025/262025Group; FY2024/252024Group; FY2023/242023Group; FY2022/232022Group; FY2021/22 Source
Cash flow
Cash flow from operations$ million 5,113.84,719.05,078.29,135.33,049.8 PDF p. 213
Internally generated cash flowR2$ million 5,175.74,767.85,218.710,396.04,142.4 PDF p. 213
Capital expenditure$ million 2,628.51,768.01,231.31,601.83,048.7 PDF p. 213
Definitions & sources

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.

Five-Year Financial Summary of the Group — Per share data

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Five-Year Financial Summary of the Group — Per share data from Annual report
Metric / unit 2026Group; FY2025/262025Group; FY2024/252024Group; FY2023/242023Group; FY2022/232022Group; FY2021/22 Source
Per share data
Earnings/(Loss) – basic (cents)cents 38.489.363.335.6(16.2) PDF p. 213
Earnings/(Loss) – diluted (cents)cents 38.285.361.435.1(16.2) PDF p. 213
Cash earnings ($)R3$ per share 1.211.661.150.690.18 PDF p. 213
Net asset value ($)$ per share 5.485.275.496.687.55 PDF p. 213
Definitions & sources

Five-Year Financial Summary of the Group — Share price

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Five-Year Financial Summary of the Group — Share price from Annual report
Metric / unit 2026Group; FY2025/262025Group; FY2024/252024Group; FY2023/242023Group; FY2022/232022Group; FY2021/22 Source
Share price
High$ 7.637.148.056.025.78 PDF p. 213
Low$ 5.905.865.694.994.41 PDF p. 213
Closing$ 6.606.796.405.735.50 PDF p. 213
Definitions & sources

Five-Year Financial Summary of the Group — Dividends

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Five-Year Financial Summary of the Group — Dividends from Annual report
Metric / unit 2026Group; FY2025/262025Group; FY2024/252024Group; FY2023/242023Group; FY2022/232022Group; FY2021/22 Source
Dividends
Ordinary dividends (cents per share)cents per share 27.040.048.038.0– PDF p. 213
Special dividends (cents per share)cents per share 10.0–––– PDF p. 213
Dividend cover (times)times 1.02.31.91.9– PDF p. 213
Definitions & sources

Five-Year Financial Summary of the Group — Profitability ratios

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Five-Year Financial Summary of the Group — Profitability ratios from Annual report
Metric / unit 2026Group; FY2025/262025Group; FY2024/252024Group; FY2023/242023Group; FY2022/232022Group; FY2021/22 Source
Profitability ratios
Return on equity holders' fundsR5% 7.217.414.810.2(5.0) PDF p. 213
Return on total assetsR6% 2.86.45.84.4(2.2) PDF p. 213
Return on turnoverR7% 6.014.414.214.2(12.5) PDF p. 213
Definitions & sources

Five-Year Financial Summary of the Group — Productivity and employee data

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Five-Year Financial Summary of the Group — Productivity and employee data from Annual report
Metric / unit 2026Group; FY2025/262025Group; FY2024/252024Group; FY2023/242023Group; FY2022/232022Group; FY2021/22 Source
Productivity and employee data
Value added ($ million)$ million 8,449.89,522.29,221.88,154.62,820.1 PDF p. 213
Value added per employee ($)R8$ per employee 290,561342,267359,959357,360126,951 PDF p. 213
Revenue per employee ($)R8$ per employee 705,684702,340742,133778,947342,793 PDF p. 213
Average employee strengthemployees 29,08127,82125,61922,81922,214 PDF p. 213
Definitions & sources

Five-Year Financial Summary of the Group — Exchange rate

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Five-Year Financial Summary of the Group — Exchange rate from Annual report
Metric / unit 2026Group; FY2025/262025Group; FY2024/252024Group; FY2023/242023Group; FY2022/232022Group; FY2021/22 Source
Exchange rate
SGD per USD exchange rate as at 31 MarchSGD per USD 1.29121.34031.34951.32951.3533 PDF p. 213
Definitions & sources

Statements of Changes in Equity — Group — FY2025/26 — printed columns on page 122

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Statements of Changes in Equity — Group — FY2025/26 — printed columns on page 122 from Annual report
Metric / unit 2026Group; FY2025/262026Group; FY2025/262026Group; 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
Definitions & sources

This page contains the first printed component columns of a table continued on the following physical page.

Statements of Changes in Equity — Group — FY2025/26 — continuation columns on page 123

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Statements of Changes in Equity — Group — FY2025/26 — continuation columns on page 123 from Annual report
Metric / unit 2026Group; FY2025/262026Group; FY2025/262026Group; FY2025/262026Group; FY2025/262026Group; FY2025/262026Group; FY2025/262026Group; FY2025/26 Source
Unlabelled continuation row aligned in printed order to preceding equity statement page
Balance at 1 April 2025$ million (25.2)31.6153.28,473.115,656.2413.816,070.0 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 –––0.20.2–0.2 PDF p. 123 Label p. 122
Realisation of reserves upon liquidation of a subsidiary company$ million 1.5–––1.50.41.9 PDF p. 123 Label p. 122
Share of other comprehensive income of associated and joint venture companies$ million 49.7–––58.10.258.3 PDF p. 123 Label p. 122
Other comprehensive income for the financial year, net of tax$ million 29.7–715.60.2753.9(6.4)747.5 PDF p. 123 Label p. 122
Profit for the financial year$ million –––1,184.01,184.039.01,223.0 PDF p. 123 Label p. 122
Total comprehensive income for the financial year$ million 29.7–715.61,184.21,937.932.61,970.5 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 4.533.4868.88,495.017,261.7424.317,686.0 PDF p. 123 Label p. 122
Definitions & sources

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.

Statements of Changes in Equity — Group — FY2024/25 — printed columns on page 124

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Statements of Changes in Equity — Group — FY2024/25 — printed columns on page 124 from Annual report
Metric / unit 2025Group; FY2024/252025Group; FY2024/252025Group; FY2024/25 Source
Changes in equity
Balance at 1 April 2024$ million 7,180.41,547.5(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
Definitions & sources

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.

Statements of Changes in Equity — Group — FY2024/25 — continuation columns on page 125

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Statements of Changes in Equity — Group — FY2024/25 — continuation columns on page 125 from Annual report
Metric / unit 2025Group; FY2024/252025Group; FY2024/252025Group; FY2024/252025Group; FY2024/252025Group; FY2024/252025Group; FY2024/252025Group; FY2024/252025Group; 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)32.2448.77,305.716,337.9406.716,744.6 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 ––––12.012.0–12.0 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 ––––2,778.02,778.034.22,812.2 PDF p. 125 Label p. 124
Total comprehensive income for the financial year$ million 11.4(4.4)–(295.5)2,790.02,501.533.02,534.5 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 ––––––3.33.3 PDF p. 125 Label p. 124
Total changes in ownership interests in subsidiary companies$ million (0.3)––––(0.3)3.22.9 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)31.6153.28,473.115,656.2413.816,070.0 PDF p. 125 Label p. 124
Definitions & sources

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.

Statements of Changes in Equity — Company — FY2025/26

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Statements of Changes in Equity — Company — FY2025/26 from Annual report
Metric / unit 2026Company; FY2025/262026Company; FY2025/262026Company; FY2025/262026Company; FY2025/262026Company; FY2025/262026Company; FY2025/262026Company; FY2025/26 Source
Changes in equity
Balance at 1 April 2025$ million 7,180.9(26.5)(929.2)26.2154.410,090.316,496.1 PDF p. 126
Net fair value changes on$ million ––––588.9–588.9 PDF p. 126
Actuarial gain on revaluation$ million –––––1.61.6 PDF p. 126
Other comprehensive income$ million ––––588.91.6590.5 PDF p. 126
Profit for the financial year$ million –––––1,106.41,106.4 PDF p. 126
Total comprehensive income$ million ––––588.91,108.01,696.9 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)27.1743.310,036.117,862.7 PDF p. 126
Definitions & sources

Statements of Changes in Equity — Company — FY2024/25

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Statements of Changes in Equity — Company — FY2024/25 from Annual report
Metric / unit 2025Company; FY2024/252025Company; FY2024/252025Company; FY2024/252025Company; FY2024/252025Company; FY2024/252025Company; FY2024/252025Company; FY2024/252025Company; FY2024/25 Source
Changes in equity
Balance at 1 April 2024$ million 7,180.41,547.5(37.5)(909.7)26.4419.89,243.017,469.9 PDF p. 127
Net fair value changes$ million –––––(265.4)–(265.4) PDF p. 127
Actuarial gain on$ million ––––––11.911.9 PDF p. 127
Other$ million –––––(265.4)11.9(253.5) PDF p. 127
Profit for the financial year$ million ––––––2,461.32,461.3 PDF p. 127
Total comprehensive$ million –––––(265.4)2,473.22,207.8 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)26.2154.410,090.316,496.1 PDF p. 127
Definitions & sources

This comparative Company statement covers the source opening balance at 1 April 2024 through the closing balance at 31 March 2025.

Three-Year Financial Highlights — TOTAL GROUP REVENUE

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Three-Year Financial Highlights — TOTAL GROUP REVENUE from Annual report
Metric / unit 2026Group; FY2025/262025Group; FY2024/252024Group; FY2023/24 Source
Three-year financial highlights
TOTAL GROUP REVENUE$ million 20,52219,54019,013 PDF p. 9
Definitions & sources

Three-Year Financial Highlights — GROUP OPERATING PROFIT

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Three-Year Financial Highlights — GROUP OPERATING PROFIT from Annual report
Metric / unit 2026Group; FY2025/262025Group; FY2024/252024Group; FY2023/24 Source
Three-year financial highlights
GROUP OPERATING PROFIT$ million 2,3751,7092,728 PDF p. 9
Definitions & sources

Three-Year Financial Highlights — GROUP NET PROFIT

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Three-Year Financial Highlights — GROUP NET PROFIT from Annual report
Metric / unit 2026Group; FY2025/262025Group; FY2024/252024Group; FY2023/24 Source
Three-year financial highlights
GROUP NET PROFIT$ million 1,1842,7782,675 PDF p. 9
Definitions & sources

Three-Year Financial Highlights — Net asset value per share

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Three-Year Financial Highlights — Net asset value per share from Annual report
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
Definitions & sources

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.

Three-Year Financial Highlights — Earnings per share (basic)

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Three-Year Financial Highlights — Earnings per share (basic) from Annual report
Metric / unit 2026Group; FY2025/26 (current-year card) Source
Three-year financial highlights
Earnings per share (basic)cents 38.4 PDF p. 9
Definitions & sources

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.

Segment information — Business segments – revenue and results, FY2025/26 (in $ million)

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Segment information — Business segments – revenue and results, FY2025/26 (in $ million) from Annual report
Metric / unit 2026FSC, FY2025/262026LCC, FY2025/262026Engineering services, FY2025/262026Others, FY2025/262026Total of segments, FY2025/262026Elimination, FY2025/262026Consolidated, FY2025/26 Source
TOTAL REVENUE
External revenue$ million 17,297.92,481.4640.4102.320,522.0–20,522.0 PDF p. 142
Inter-segment revenue$ million 74.3107.6782.557.81,022.2(1,022.2)– PDF p. 142
TOTAL REVENUE$ million 17,372.22,589.01,422.9160.121,544.2(1,022.2)20,522.0 PDF p. 142
RESULTS
Segment result$ million 2,306.256.129.4(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 303.340.412.15.1360.9(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 1,058.16.9171.5(10.2)1,226.3(3.3)1,223.0 PDF p. 142
Definitions & sources

* Relates to inter-segment transactions eliminated on consolidation.

Attributable-to rows are printed only in the Consolidated column.

Segment information — Business segments – revenue and results, FY2024/25 (in $ million)

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Segment information — Business segments – revenue and results, FY2024/25 (in $ million) from Annual report
Metric / unit 2025FSC, FY2024/252025LCC, FY2024/252025Engineering services, FY2024/252025Others, FY2024/252025Total of segments, FY2024/252025Elimination, FY2024/252025Consolidated, FY2024/25 Source
TOTAL REVENUE
External revenue$ million 16,676.92,255.9521.685.419,539.8–19,539.8 PDF p. 143
Inter-segment revenue$ million 61.193.3723.568.8946.7(946.7)– PDF p. 143
TOTAL REVENUE$ million 16,738.02,349.21,245.1154.220,486.5(946.7)19,539.8 PDF p. 143
RESULTS
Segment result$ million 1,668.935.814.6(18.1)1,701.27.91,709.1 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 505.567.218.613.5604.8(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)0.715.6–15.6 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 2,639.022.2141.6(0.3)2,802.59.72,812.2 PDF p. 143
Definitions & sources

* Relates to inter-segment transactions eliminated on consolidation.

Attributable-to rows are printed only in the Consolidated column.

Segment information — Business segments – assets, liabilities and other items, as at 31 March 2026 (in $ million)

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Segment information — Business segments – assets, liabilities and other items, as at 31 March 2026 (in $ million) from Annual report
Metric / unit 2026FSC, as at 31 March 20262026LCC, as at 31 March 20262026Engineering services, as at 31 March 20262026Others, as at 31 March 20262026Total of segments, as at 31 March 20262026Elimination, as at 31 March 20262026Consolidated, as at 31 March 2026 Source
AS AT 31 MARCH 2026
Segment assets$ million 35,201.95,727.41,368.2366.642,664.1(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 36,721.05,727.42,266.0366.645,081.0(1,668.3)43,412.7 PDF p. 144
Segment liabilities$ million 11,332.11,112.6312.7144.212,901.6(1,808.4)11,093.2 PDF p. 144
Lease liabilities$ million 1,823.91,014.1155.810.73,004.5(26.5)2,978.0 PDF p. 144
Long-term liabilities$ million 187.80.2––188.0–188.0 PDF p. 144
Provisions$ million 688.5550.48.22.71,249.8(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 7,541.4107.35.412.67,666.7–7,666.7 PDF p. 144
Tax liabilities$ million 2,445.833.7(0.5)16.52,495.5–2,495.5 PDF p. 144
Total liabilities$ million 24,069.12,818.3488.0186.727,562.1(1,835.4)25,726.7 PDF p. 144
Capital expenditure$ million 1,868.1721.036.92.52,628.5–2,628.5 PDF p. 144
Purchase of intangible assets$ million 93.413.511.32.2120.4–120.4 PDF p. 144
Depreciation$ million 2,011.7403.859.14.02,478.6(13.0)2,465.6 PDF p. 144
Amortisation of intangible assets$ million 58.76.97.92.375.8–75.8 PDF p. 144
Non-cash items other than depreciation and amortisation of intangible assets$ million 55.88.88.6(2.2)71.0–71.0 PDF p. 144
Definitions & sources

* 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.

Segment information — Business segments – assets, liabilities and other items, as at 31 March 2025 (in $ million)

17 metrics

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Segment information — Business segments – assets, liabilities and other items, as at 31 March 2025 (in $ million) from Annual report
Metric / unit 2025FSC, as at 31 March 20252025LCC, as at 31 March 20252025Engineering services, as at 31 March 20252025Others, as at 31 March 20252025Total of segments, as at 31 March 20252025Elimination, as at 31 March 20252025Consolidated, as at 31 March 2025 Source
AS AT 31 MARCH 2025
Segment assets$ million 34,748.25,944.31,294.0588.342,574.8(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––3.339.5–39.5 PDF p. 145
Total assets$ million 37,151.45,944.32,126.6591.645,813.9(2,727.1)43,086.8 PDF p. 145
Segment liabilities$ million 11,760.41,077.6302.0153.813,293.8(2,693.1)10,600.7 PDF p. 145
Lease liabilities$ million 2,210.71,135.580.510.53,437.2(33.6)3,403.6 PDF p. 145
Long-term liabilities$ million 137.6–––137.6–137.6 PDF p. 145
Provisions$ million 685.6657.83.52.21,349.1–1,349.1 PDF p. 145
Defined benefit plans$ million 58.1–––58.1–58.1 PDF p. 145
Borrowings$ million 9,337.8155.04.713.29,510.7–9,510.7 PDF p. 145
Tax liabilities$ million 1,955.5(11.1)(5.6)18.21,957.0–1,957.0 PDF p. 145
Total liabilities$ million 26,145.73,014.8385.1197.929,743.5(2,726.7)27,016.8 PDF p. 145
Capital expenditure$ million 1,316.0394.152.95.01,768.0–1,768.0 PDF p. 145
Purchase of intangible assets$ million 80.710.311.53.2105.7–105.7 PDF p. 145
Depreciation$ million 1,910.3354.157.23.32,324.9(16.7)2,308.2 PDF p. 145
Amortisation of intangible assets$ million 60.04.66.51.772.8–72.8 PDF p. 145
Non-cash items other than depreciation and amortisation of intangible assets$ million 31.53.43.80.439.1–39.1 PDF p. 145
Definitions & sources

* Relates to inter-segment transactions eliminated on consolidation.

Segment information — Geographical segments – revenue on airline operations (in $ million)

8 metrics

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Segment information — Geographical segments – revenue on airline operations (in $ million) from Annual report
Metric / unit 2026By area of original sale, FY2025/262025By area of original sale, FY2024/252026By route region, FY2025/262025By route region, FY2024/25 Source
Geographical segments
East Asia$ million 10,439.79,940.57,101.16,582.5 PDF p. 146
Europe$ million 2,665.92,513.53,771.33,471.1 PDF p. 146
South West Pacific$ million 2,984.22,958.03,635.73,561.0 PDF p. 146
Americas$ million 1,394.31,333.92,403.12,588.4 PDF p. 146
West Asia and Africa$ million 1,368.41,329.11,941.31,872.0 PDF p. 146
Systemwide$ million 18,852.518,075.018,852.518,075.0 PDF p. 146
Non-scheduled services and incidental revenue$ million 1,108.71,012.21,108.71,012.2 PDF p. 146
Total airline operations revenue$ million 19,961.219,087.219,961.219,087.2 PDF p. 146
Definitions & sources

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.

Borrowings — Note 17 Borrowings – current and non-current (in $ million)

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Borrowings — Note 17 Borrowings – current and non-current (in $ million) from Annual report
Metric / unit 2026The Group, 31 March2025The Group, 31 March2026The Company, 31 March2025The Company, 31 March Source
Current Liabilities – Borrowings
Notes payable$ million 1,275.6700.01,275.6700.0 PDF p. 158
Loans$ million 680.9675.7617.3613.0 PDF p. 158
Convertible bonds$ million –837.7–837.7 PDF p. 158
Total current borrowings (unlabelled subtotal)$ million 1,956.52,213.41,892.92,150.7 PDF p. 158
Non-current Liabilities – Borrowings
Notes payable$ million 3,112.53,965.23,112.53,965.2 PDF p. 158
Loans$ million 2,597.73,332.12,536.03,221.9 PDF p. 158
Total non-current borrowings (unlabelled subtotal)$ million 5,710.27,297.35,648.57,187.1 PDF p. 158
Definitions & sources

Notes payable as at 31 March 2026 comprised unsecured notes issued by the Company.

Subtotal rows have no printed label.

Borrowings — Statements of financial position – borrowings and lease liabilities (in $ million)

4 metrics

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Borrowings — Statements of financial position – borrowings and lease liabilities (in $ million) from Annual report
Metric / unit 2026The Group, 31 March2025The Group, 31 March2026The Company, 31 March2025The Company, 31 March Source
Non-current
LONG-TERM LEASE LIABILITIES$ million 2,530.92,866.71,540.71,827.8 PDF p. 121
BORROWINGS$ million 5,710.27,297.35,648.57,187.1 PDF p. 121
Current liabilities
Borrowings$ million 1,956.52,213.41,892.92,150.7 PDF p. 121
Lease liabilities$ million 447.1536.9283.2382.9 PDF p. 121
Definitions & sources

Borrowings — Notes payable by series – SGD10 Billion Multicurrency Medium Term Note Programme (unsecured, issued by the Company)

8 metrics

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Borrowings — Notes payable by series – SGD10 Billion Multicurrency Medium Term Note Programme (unsecured, issued by the Company) from Annual report
Metric / unit 2026Face value, 31 March 20262026Carrying value, 31 March 20262025Face value, 31 March 20252025Carrying value, 31 March 2025 Source
SGD, fixed 3.035% per annum, year of maturity 2025
005$ million ––700.0700.0 PDF p. 158
SGD, fixed 3.13% per annum, year of maturity 2027
006$ million 700.0699.8700.0699.6 PDF p. 158
SGD, fixed 3.50% per annum, year of maturity 2030
008$ million 500.0499.5500.0499.4 PDF p. 158
USD, fixed 3.00% per annum, year of maturity 2026
009$ million 645.6645.4670.2669.1 PDF p. 158
USD, fixed 3.375% per annum, year of maturity 2029
010$ million 774.7771.6804.2799.9 PDF p. 158
USD, fixed 5.25% per annum, year of maturity 2034
011$ million 645.6642.6670.2666.7 PDF p. 158
SGD, fixed 2.70% per annum, year of maturity 2036
012$ million 500.0499.0–– PDF p. 158
Notes payable total
Total (unlabelled)$ million 4,395.94,388.14,674.64,665.2 PDF p. 158
Definitions & sources

* 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.

Borrowings — Loans – The Group (in $ million); currency, rate and maturity year given in section

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Borrowings — Loans – The Group (in $ million); currency, rate and maturity year given in section from Annual report
Metric / unit 2026Face value, 31 March 20262026Carrying value, 31 March 20262025Face value, 31 March 20252025Carrying value, 31 March 2025 Source
Fixed Rate; SGD 2.86% maturity 2028
Secured bank loan$ million 249.5249.3344.4344.1 PDF p. 159
Fixed Rate; SGD 2.92% maturity 2028
Secured bank loan$ million 108.0107.3156.0155.0 PDF p. 159
Fixed Rate; SGD 2.62% maturity 2029
Secured bank loan$ million 295.0294.8388.4387.9 PDF p. 159
Fixed Rate; SGD 0.34% maturity 2029
Secured bank loan$ million 56.356.271.371.2 PDF p. 159
Fixed Rate; SGD 0.35% maturity 2029
Secured bank loan$ million 60.160.075.375.2 PDF p. 159
Fixed Rate; SGD 2.10% maturity 2030
Secured bank loan$ million 180.0179.3210.0209.0 PDF p. 159
Fixed Rate; SGD 2.19% maturity 2030
Secured bank loan$ million 149.8149.4181.2180.5 PDF p. 159
Fixed Rate; SGD 2.14% maturity 2030
Secured bank loan$ million 74.874.590.590.0 PDF p. 159
Fixed Rate; SGD 1.92% maturity 2030
Secured bank loan$ million 142.1141.4172.1171.0 PDF p. 159
Fixed Rate; SGD 1.98% maturity 2030
Secured bank loan$ million 74.574.390.289.8 PDF p. 159
Fixed Rate; SGD 2.07% maturity 2030
Secured bank loan$ million 82.682.498.197.8 PDF p. 159
Fixed Rate; SGD 2.24% maturity 2031
Secured bank loan$ million 82.982.698.498.0 PDF p. 159
Fixed Rate; SGD 2.15% maturity 2032 (first row)
Secured bank loan$ million 173.6172.6198.3197.2 PDF p. 159
Fixed Rate; SGD 2.15% maturity 2032 (second row)
Secured bank loan$ million 152.7151.7174.4173.1 PDF p. 159
Fixed Rate; EUR 0.46% maturity 2029
Secured bank loan$ million 56.356.369.569.5 PDF p. 159
Fixed Rate; EUR 0.65% – 0.68% maturity 2029 – 2030
Secured bank loan$ million 351.1350.8430.3429.8 PDF p. 159
Fixed Rate; JPY 0.41% maturity 2029
Secured bank loan$ million 70.670.598.498.3 PDF p. 159
Fixed Rate; JPY 0.93% – 1.35% maturity 2033 – 2034
Aircraft leasing loans$ million 677.6675.0819.4816.0 PDF p. 159
Fixed Rate; USD 1.69% – 1.85% maturity 2033 – 2034
Aircraft leasing loans$ million 234.1232.2238.8236.5 PDF p. 159
Floating rate; USD 5.81% maturity 2025
Revolving credit facility$ million ––0.70.7 PDF p. 159
Floating rate; USD 5.25% maturity 2026
Revolving credit facility$ million 2.32.3–– PDF p. 159
Floating rate; USD 5.81% maturity 2028
Term loan drawndown$ million 3.13.14.04.0 PDF p. 159
Floating rate; SGD 4.60% maturity 2025
Revolving credit facility$ million ––3.03.0 PDF p. 159
Floating rate; SGD 4.45% maturity 2025
Revolving credit facility$ million ––8.08.0 PDF p. 159
Floating rate; SGD 3.10% maturity 2026
Revolving credit facility$ million 3.03.0–– PDF p. 159
Floating rate; SGD 3.05% maturity 2026
Revolving credit facility$ million 8.18.1–– PDF p. 159
Floating rate; SGD 2.66% maturity 2025
Trust receipt$ million ––2.22.2 PDF p. 159
Floating rate; SGD 1.08% maturity 2026
Trust receipt$ million 1.51.5–– PDF p. 159
Loans total
Total loans (unlabelled)$ million 3,289.63,278.64,022.94,007.8 PDF p. 159
Definitions & sources

Rate, currency and maturity-year columns are recorded in the section field of each row.

Borrowings — Loans – The Company (in $ million); currency, rate and maturity year given in section

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Borrowings — Loans – The Company (in $ million); currency, rate and maturity year given in section from Annual report
Metric / unit 2026Face value, 31 March 20262026Carrying value, 31 March 20262025Face value, 31 March 20252025Carrying value, 31 March 2025 Source
Fixed Rate; SGD 2.86% maturity 2028
Secured bank loan$ million 249.5249.3344.4344.1 PDF p. 160
Fixed Rate; SGD 2.62% maturity 2029
Secured bank loan$ million 295.0294.8388.4387.9 PDF p. 160
Fixed Rate; SGD 0.34% maturity 2029
Secured bank loan$ million 56.356.271.371.2 PDF p. 160
Fixed Rate; SGD 0.35% maturity 2029
Secured bank loan$ million 60.160.075.375.2 PDF p. 160
Fixed Rate; SGD 2.10% maturity 2030
Secured bank loan$ million 180.0179.3210.0209.0 PDF p. 160
Fixed Rate; SGD 2.19% maturity 2030
Secured bank loan$ million 149.8149.4181.2180.5 PDF p. 160
Fixed Rate; SGD 2.14% maturity 2030
Secured bank loan$ million 74.874.590.590.0 PDF p. 160
Fixed Rate; SGD 1.92% maturity 2030
Secured bank loan$ million 142.1141.4172.1171.0 PDF p. 160
Fixed Rate; SGD 1.98% maturity 2030
Secured bank loan$ million 74.574.390.289.8 PDF p. 160
Fixed Rate; SGD 2.07% maturity 2030
Secured bank loan$ million 82.682.498.197.8 PDF p. 160
Fixed Rate; SGD 2.24% maturity 2031
Secured bank loan$ million 82.982.698.498.0 PDF p. 160
Fixed Rate; SGD 2.15% maturity 2032 (first row)
Secured bank loan$ million 173.6172.6198.3197.2 PDF p. 160
Fixed Rate; SGD 2.15% maturity 2032 (second row)
Secured bank loan$ million 152.7151.7174.4173.1 PDF p. 160
Fixed Rate; EUR 0.46% maturity 2029
Secured bank loan$ million 56.356.369.569.5 PDF p. 160
Fixed Rate; EUR 0.65% – 0.68% maturity 2029 – 2030
Secured bank loan$ million 351.1350.8430.3429.8 PDF p. 160
Fixed Rate; JPY 0.41% maturity 2029
Secured bank loan$ million 70.670.598.498.3 PDF p. 160
Fixed Rate; JPY 0.93% – 1.35% maturity 2033 – 2034
Aircraft leasing loans$ million 677.6675.0819.4816.0 PDF p. 160
Fixed Rate; USD 1.69% – 1.85% maturity 2033 – 2034
Aircraft leasing loans$ million 234.1232.2238.8236.5 PDF p. 160
Loans total
Total loans (unlabelled)$ million 3,163.63,153.33,849.03,834.9 PDF p. 160
Definitions & sources

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.

Borrowings — Convertible bonds movement – The Group and the Company (in $ million)

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Borrowings — Convertible bonds movement – The Group and the Company (in $ million) from Annual report
Metric / unit 2026The Group and the Company2025The Group and the Company Source
Convertible bonds
Balance at 1 April$ million 837.7820.4 PDF p. 161
Amortised bond principal$ million 2.715.5 PDF p. 161
Amortised transaction costs$ million 1.31.8 PDF p. 161
Conversion of convertible bonds$ million (841.7)– PDF p. 161
Balance at 31 March$ million –837.7 PDF p. 161
Definitions & sources

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.

Borrowings — Liquidity risk – contractual undiscounted maturity profile at 31 March 2026 (in $ million)

6 metrics

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Borrowings — Liquidity risk – contractual undiscounted maturity profile at 31 March 2026 (in $ million) from Annual report
Metric / unit 2026Within 1 year20261–2 years20262–3 years20263–4 years20264–5 years2026More than 5 years2026Total Source
The Group
Notes payable$ million 1,418.4802.5866.365.4565.41,316.35,034.3 PDF p. 203
Loans$ million 719.6704.2612.0419.4275.7696.23,427.1 PDF p. 203
Lease liabilities$ million 523.2518.1483.6434.6406.71,157.03,523.2 PDF p. 203
The Company
Notes payable$ million 1,418.4802.5866.365.4565.41,316.35,034.3 PDF p. 203
Loans$ million 653.2652.6599.9419.4275.7696.23,297.0 PDF p. 203
Lease liabilities$ million 301.2317.7307.3272.1258.2700.32,156.8 PDF p. 203
Definitions & sources

Table also lists other financial liabilities (trade and other creditors, derivatives), not extracted. Amounts are contractual undiscounted cash flows including interest.

Borrowings — Liquidity risk – contractual undiscounted maturity profile at 31 March 2025 (in $ million)

8 metrics

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Borrowings — Liquidity risk – contractual undiscounted maturity profile at 31 March 2025 (in $ million) from Annual report
Metric / unit 2025Within 1 year20251–2 years20252–3 years20253–4 years20254–5 years2025More than 5 years2025Total Source
The Group
Notes payable$ million 852.61,432.1791.3884.553.21,330.45,344.1 PDF p. 203
Convertible bonds$ million 863.6–––––863.6 PDF p. 203
Loans$ million 729.9714.0713.5621.2428.01,025.34,231.9 PDF p. 203
Lease liabilities$ million 769.0544.0453.4436.2419.31,534.54,156.4 PDF p. 203
The Company
Notes payable$ million 852.61,432.1791.3884.553.21,330.45,344.1 PDF p. 203
Convertible bonds$ million 863.6–––––863.6 PDF p. 203
Loans$ million 663.0662.4661.8609.1428.01,025.34,049.6 PDF p. 203
Lease liabilities$ million 548.3341.3284.0274.9272.0979.62,700.1 PDF p. 203
Definitions & sources

Table also lists other financial liabilities, not extracted. Amounts are contractual undiscounted cash flows.

Borrowings — Capital Management – total debt and gearing (in $ million)

6 metrics

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Borrowings — Capital Management – total debt and gearing (in $ million) from Annual report
Metric / unit 2026The Group, 31 March2025The Group, 31 March2026The Company, 31 March2025The Company, 31 March Source
Total debt
Notes payable$ million 4,388.14,665.24,388.14,665.2 PDF p. 205
Convertible bonds$ million –837.7–837.7 PDF p. 205
Loans$ million 3,278.64,007.83,153.33,834.9 PDF p. 205
Lease liabilities$ million 2,978.03,403.61,823.92,210.7 PDF p. 205
Total debt$ million 10,644.712,914.39,365.311,548.5 PDF p. 205
Gearing ratio (times)times 0.620.820.520.70 PDF p. 205
Definitions & sources

The Group monitors capital using a gearing ratio, which is total debt divided by total capital.

Payout

Dividends & distributions

Dividends declared and proposed

ItemValuePeriod / scopeSource
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

Audit & risk signals

Audit opinion

ItemValuePeriod / scopeSource
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.

How to read these figures

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.