NEW DELHI: Cost-cutting at Air India is showing results with Singapore Airlines (SIA) group Wednesday saying the share of AI’s losses in this H1 have fallen 16% to Rs 2,643 crore from Rs 3,138 crore a year earlier. Inversely, this indictates that AI group’s H1 losses have also fallen 16% to Rs 10,530 crore from Rs 12,502 crore in same period last year.However, the sharp increase in jet fuel prices saw SIA group report a net profit of Rs 979 crore in the first half of this fiscal, down 44% from Rs 1,746 crore during same period last year. SIA Group’s fuel bill shot up 56% to Rs 29,038.5 crore this H1.“Air India has made tangible progress in its multi-year transformation, including enhancements to customer experience and operational performance. This has been accompanied by improving customer sentiment… SIA, and its partner, Tata Sons, recognise that a transformation of this scale will take time. Both partners continue to work closely to support Air India’s journey towards profitable growth, including strengthening structural cost efficiencies, unlocking greater synergies between Air India and Air India Express, sharpening its commercial strategy to navigate current external challenges elevating its customer proposition,” SIA said in a statement.In Q2, SIA group posted a profit of Rs 1,534 crore, up from Rs 1,154 crore same period last fiscal. This was due to the stronger operating profit and a lower share of losses from associated companies, “mainly Air India (plus Rs 804 crore).”SIA describes its stake in AI group as a “key pillar of its multi-hub strategy. This direct participation in one of the world’s largest and fastest growing aviation markets complements SIA Group’s main hub in Singapore, and broaden access to new traffic flows.”Following the signing of a commercial cooperation agreement in Jan 2026, AI and SIA launched the first phase of joint initiatives this Oct. These include additional flights between Singapore and eight Indian cities and a more seamless booking experience. Enhanced reciprocal loyalty programme benefits were introduced in April 2026, with more being planned in the second quarter of 2027.The SIA group says while maintaining “disciplined cost management,” it will “continue to invest strategically in both SIA and Scoot, advance its multi-hub strategy through its investment in Air India and deepen win-win partnerships with like-minded carriers in key markets.”