Singapore Airlines to invest $ 267 million for 25.1% stake in Air India group

28 Feb 2023 , 02:28 PM

As per the agreement between Singapore Airlines and Tata Sons (Tata), the former will inject an additional SGD 360 million (USD 267 million) into Air India. Following Tata’s takeover and merger with Vistara Airlines, it will give SIA a 25.1% stake in the enlarged Air India group.

One of the key strategic initiatives for future growth mentioned is the November 2022 agreement between Singapore Airlines and Tata Sons to inject another USD 267 million into Air India, as highlighted in the company’s quarterly financial report. Regulatory approval is still pending for this agreement.

Singapore Airlines (SIA) announced that its net profit for the third quarter, which ended in December, was SGD 628 million (USD 465 million), and its fiscal year-to-date profits reached SGD 1,555 million (USD 1,152 million). 

This follows Singapore’s announcement on February 13 that it will relax all remaining Covid restrictions for both visitors and locals.

In the third quarter, its two main airline brands carried 7.4 million passengers, up 17% from the previous quarter.

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