SIA's ability to serve Singaporeans not affected by Air India investment: Jeffrey Siow to WP's Kenneth Tiong

Transport Minister Jeffrey Siow affirmed on September 8 that Singapore Airlines' (SIA) ability to serve Singaporeans will not be impacted by its investment in Air India. Addressing concerns raised by Workers' Party MP Kenneth Tiong, Siow clarified that SIA's losses from foreign associates do not necessarily convert into the company's liabilities.

He emphasized that SIA is only required to report any events or irregularities that may materially hinder its ability to provide essential transport services. While SIA owns 25.1% of Air India, Siow asserted that there is no evidence suggesting that the airline's investments have reached a point of materially constraining its resources.

He highlighted SIA's strong financial performance, record revenue, high operating profit margins, and record number of passengers carried in its recent fiscal year. Additionally, Siow explained the strategic benefits of SIA's investment in Air India, such as gaining access to a large aviation market and strategic connections to Europe and the Middle East.

He also highlighted that SIA's management and board are responsible for making decisions regarding the company's investments.