Temasek backs Singapore Airlines' investments in Air India
A statement from Temasek, which is a stakeholder in Singapore Airlines, comes against the backdrop of concerns raised in certain quarters about the carrier's investment in the loss-making Air India.
Singapore's sovereign wealth fund, Temasek, expressed its support for Singapore Airlines' investment in Air India on Saturday. Temasek, which holds a stake in Singapore Airlines (SIA), noted the complexities associated with Air India's large-scale transformation, which includes multi-year operational and integration challenges. Air India, a loss-making carrier, requires additional capital, with reports suggesting a potential USD 1.5 billion investment.
Temasek emphasized that as a long-term shareholder of SIA, it views the business decision positively, focusing on SIA's strategic objective to expand its presence in India, a major aviation market.
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