SIA's ability to serve Singaporeans not affected by Air India investment: Jeffrey Siow to WP's Kenneth Tiong
The Workers' Party MP asked if the government would rule out direct support through Temasek if "Air India goes wrong", but Mr Siow said Air India’s losses do not automatically become SIA’s liabilities.
Transport Minister Jeffrey Siow assured Singaporeans that the government does not plan to intervene directly through Temasek in the event of any financial troubles for Air India. Mr Siow clarified that Air India’s losses do not automatically become SIA’s liabilities, as the company is not obligated to compensate its parent company for any financial setbacks in its foreign associates.
SIA’s ability to serve Singaporeans remains unaffected by its investment in Air India, as the airline’s core business has been performing well, with record revenues, high operating profit margins, and a record number of passengers carried.
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