New Delhi–Singapore Airlines said it is seeing “tangible progress” in Air India’s transformation and continues to view the loss-making Indian carrier as an important part of its long-term multi-hub strategy.
The airline made the comments while responding to shareholder and investor questions ahead of its annual general meeting scheduled for July 24.
Singapore Airlines said it conducted a formal impairment assessment after identifying factors that warranted a review but concluded that no write-down of its investment in Air India was necessary.
In a filing with the Singapore Exchange, the carrier reaffirmed that its 25.1 percent stake in Air India remains central to its long-term strategy, citing the strong growth potential of India’s aviation market.
Singapore Airlines acknowledged that Air India continues to face several challenges, including depreciation of the Indian rupee, supply chain disruptions, the closure of Pakistani airspace and the June 2025 plane crash that killed 260 people.
Despite those difficulties, the airline said Air India has made measurable progress in customer experience, fleet and network expansion, operational performance, and ground and in-flight services.
Singapore Airlines said its board would carefully consider any future request for additional capital from Air India, taking into account the group’s own funding requirements and the Indian carrier’s business strategy.
The company declined to comment on reports that Air India sought a $1.1 billion capital infusion in October 2025.
“In line with its accounting policy, the Group assesses its investment in Air India at each reporting date for any indicators of impairment, and performs a formal impairment test whenever there is objective evidence that the value of its investment in Air India may be impacted,” Singapore Airlines said.
The airline also noted that its Chief Executive Officer serves as a non-executive and non-independent director on Air India’s board, allowing Singapore Airlines to provide strategic guidance and industry expertise. (Source: IANS)
