Loss-hit Air India looks for financial aid to stay afloat
Asks for Rs10,000 cr from Tata Sons, Singapore Airlines, and Rs4K cr from govt as well
image for illustrative purpose
New Delhi: Singapore Airlines on Friday said that as a significant minority shareholder it will provide its expertise and support where necessary to Air India (AI). The comments came against the backdrop of reports saying that Air India is seeking more than Rs10,000 crore from Tata Sons and Singapore Airlines. Air India reportedly sought government subsidy to the tune of Rs4,000 crore after Pakistan closed airspace, which caused it huge losses.
The loss-making Air India, which is jointly owned by Tata Sons and Singapore Airlines, has been facing certain headwinds in recent times. In one of the worst air accidents, Air India’s Boeing 787-8 Dreamliner enroute to London Gatwick crashed soon after take-off from Ahmedabad on June 12, killing 260 people.
“As a significant minority shareholder in Air India, Singapore Airlines (SIA) has been working closely with our partner Tata Sons to support Air India’s transformation programme. This includes providing our expertise and support to Air India, where necessary,” a Singapore Airlines spokesperson said in a statement. The statement was in response to a query regarding the reports about providing funds for Air India. Without disclosing specifics, the spokesperson referred to Air India for specific details regarding Air India’s operations and financial requirements. There were no comments from Air India and Tata Sons on the funding plans. Tata Sons and Singapore Airlines invested Rs9,558 crore in Air India in 2024-25, with the promoters pumping in Rs4,306 crore alone in March this year.
