Singapore Airlines backs Air India despite large loss share

Singapore Airlines (SIA) confirmed that its 25.1% stake in Air India remains a strategic part of its multi‑hub plan and said the Indian carrier is showing "tangible progress" in customer experience, fleet and network expansion, and operational performance. SIA disclosed that it absorbed a S$945.2 million loss from Air India in the 2025/26 financial year, reducing the investment's carrying value to S$1.13 billion from S$2.02 billion a year earlier. The airline said it is open to additional capital support for Air India, but any future injection will be evaluated against SIA’s own funding needs. Challenges cited include high fuel costs, rupee depreciation, supply‑chain disruptions, the closure of Pakistani airspace and the AI‑171 crash. Despite the setbacks, SIA reported record revenue of S$20.5 billion and a 39% rise in operating profit, although net profit fell 57.4% year‑on‑year due to Air India losses.

SIA’s CEO Goh Choon Phong also serves as a non‑executive director on Air India’s board, providing strategic guidance as the partnership evolves.