<h1>Major carrier's quarterly net profit falls 82% as equity-accounted associate losses and fatal accident raise legal and financial risks</h1> A major carrier reported an 82% quarterly net profit decline, attributing most of the reduction to its equity-accounted 25.1% stake in an associate airline and lower interest income; the associate's losses began being equity-accounted after integration of a merged unit in late 2024. The carrier emphasised the stake as a strategic long-term investment and affirmed continued cooperation with its joint-venture partner on a multi-year transformation. The report highlights potential legal and financial exposure arising from the associate's operational losses and a recent fatal accident, which may affect insurance, regulatory investigations, liability allocations and disclosure obligations.