Singapore Airlines (SIA) shares fell more than 4% following the carrier's latest earnings report.
The airline recorded a net loss of S$76 million for the first quarter.
This result marks the company's first quarterly deficit since the pandemic.
The performance reverses a S$186 million profit reported in the same period last year.
Strong passenger demand drove record quarterly revenue of S$5.7 billion.
However, net fuel costs surged 78.5% due to the Middle East conflict.
Higher losses from the Air India investment also weighed on the bottom line.