Enjoy low commission on Interactive Brokers https://kvli.link/ibkr ► Join my Telegram https://t.me/kelvinvest Singapore Airlines is losing money, and it is not because the flying got worse. In the three months to June 2026, SIA posted its first quarterly loss since the pandemic, S$76 million, in a quarter where it carried a record 10.9 million passengers and pulled in record revenue of S$5.7 billion. To understand why, you have to go back to 1972, when Malaysia-Singapore Airlines was split in two. Singapore took the jets, the international routes and 22 cities in 18 countries. Malaysia took the domestic network. For 54 years that looked like the obvious win, and it is only now that the cost of having no home market is turning up in the accounts. In this video I go through what actually changed. Why the Changi hub can be copied, why SIA has spent since 1989 trying to buy a home market inside someone else's country, and what its 25.1% stake in Air India is now costing the dividend. ⏱️ TIMESTAMPS 00:00 - Hook 01:04 - Before there was SIA 01:56 - IBKR shout out 02:29 - The divorce 04:20 - The constraint that built it 06:15 - So what actually happened? 08:28 - Reason one 09:31 - Reason two 12:15 - Reason three 15:50 - But to be fair 17:39 - Close None of this is meant to be construed as investment advice. It's for information purposes only. Links above include affiliate commission or referrals. I'm part of an affiliate network and I receive compensation from partnering websites. TAGS #singaporeairlines #sia #airindia #changiairport #aviation #airline #scoot #dividends #personalfinance #singapore #investing #money...