Singapore Airlines says India investments have been and will remain internally funded
Air India’s transformation is a “complex, multi-year programme and is not expected to be linear”, SIA says.
Singapore Airlines (SIA) has announced that its investments in India have been funded and will continue to be funded through internal resources, rather than seeking external support. This statement came in response to an inquiry from MP Kenneth Tiong (WP-Aljunied) in parliament regarding the financial assessment of SIA's foreign associates.
SIA established Vistara, a joint venture with Tata Sons, in 2013, which was later consolidated into Air India in November 2024. Currently, SIA holds a 25.1% stake in the expanded Air India Group, with its investments being "subject to board approval and a disciplined capital allocation framework." The airline's spokesperson highlighted that SIA possesses one of the strongest financial positions in the airline industry, boasting S$10.48 billion in cash reserves and access to S$3.24 billion in committed lines of credit.
SIA also has less than S$3 billion in current debt obligations, all well-covered by its cash reserves. The company's spokesperson emphasized that SIA's investment in Air India receives full attention from the SIA board and that the Air India investment has strengthened commercial cooperation between the two airlines and enhanced Singapore's access to India's rapidly expanding aviation market.
Written by urgent.news from CNA - Singapore's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
