Singapore state investor Temasek has backed Singapore Airlines’ investment in Air India amid growing scrutiny over the carrier’s financial performance.
Singapore Airlines holds a 25.1% stake in Air India, with Tata Sons as the majority owner. Air India recently sought around $1.5 billion in additional equity from its owners, raising questions among some Singaporean lawmakers and media over the investment.
Temasek has defended the investment as a long-term strategic decision, acknowledging that Air India’s transformation is complex and will take time.
Air India and Air India Express reported combined losses of $2.33 billion in the last fiscal year. Singapore Airlines has said its board will carefully evaluate any future capital injection based on the group’s broader financial priorities and Air India’s strategic direction.
