SINGAPORE, Aug 13 — Singapore Airlines (SIA) has reported an overall loss of S$945 million (RM3.02 billion) at Air India between March 2025 and March 2026, less than two years after acquiring a 25 per cent stake in the Indian carrier.
Mothership, citing a Financial Times report, said SIA’s investment has been hit by a series of challenges since it was completed in November 2024, including a fatal aircraft crash, disruption from Pakistan’s airspace restrictions and rising jet fuel costs.
SIA became a 25 per cent shareholder in Air India as part of a deal with Tata Sons, which owns the remaining 75 per cent.
The investment came just months before an Air India aircraft crashed in June 2025, one of the most significant setbacks to hit the airline since the takeover.
Air India was also affected when Pakistan banned Indian airlines from its airspace in April 2025, forcing carriers to alter routes and adding to operational pressures.
The airline has faced further headwinds in 2026 as higher jet fuel costs added to challenges across the global aviation industry.
A SIA executive cited by the Financial Times described the period as “an annus horribilis (a horrible year) for Air India”.
The executive said Air India was undertaking a major transformation while simultaneously dealing with the series of setbacks.
“The timing could not have been worse,” the executive said.
SIA had initially been brought in by Tata Sons as an unofficial adviser when the conglomerate began exploring a takeover of Air India in 2021.
The Singapore carrier was attracted by Air India’s growth prospects and saw the investment as an opportunity to expand its business beyond its domestic market.
SIA’s management provided S$822 million in capital to Air India initially, followed by another S$167 million in March 2025.
Despite the setbacks, Air India is continuing its transformation under Tata Sons, which took control of the carrier as part of its efforts to revive the former state-owned airline.
