Singapore Airlines seeks stronger terms for Air India
Singapore Airlines is expected to demand greater management influence and stronger governance rights before approving fresh funding for Air India. The carrier faces pressure to justify further investment after Air India posted a heavy annual loss.
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Singapore Airlines Ltd is seeking stricter governance and management controls before approving a $1.5 billion equity injection for Air India, people familiar with the matter said Tuesday afternoon. The carrier faces pressure to protect its balance sheet after Air India posted a $2.33 billion loss in the financial year ending March. The carrier holds a 25.1% stake in the Indian airline, while majority owner Tata Sons provides pro-rata backing.
