Air India seeking US$1.5 billion from owners Tata, Singapore Airlines: sources
It comes months after the carrier and its budget unit posted a record annual loss of US$2.33 billion
Air India is requesting approximately US$1.5 billion in fresh equity from its owners, Tata Sons and Singapore Airlines, following a record annual loss of US$2.33 billion, according to sources. This would be one of Air India's largest requests for shareholder funding since Tata's acquisition of the airline in 2022. The losses have also impacted Singapore Airlines' profits, and Air India's budget unit, Air India Express, posted a similar loss during the same period.
The carrier is seeking the funding in forms of fresh equity, and discussions are ongoing. Discussions between Air India, Tata Sons, and Singapore Airlines are ongoing, with no decision made on the request yet. The funding request comes amid various challenges, including disruptions in Pakistan, international network impacts from conflicts and a devastating crash, and ongoing discussions about the airline's turnaround plan.
Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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