Air India seeks US$1.5 billion from owners SIA, Tata as losses mount: Sources
- NEW DELHI: Air India is seeking about US$1.5 billion in fresh equity from its owners Tata Sons and Singapore Airlines (SIA), months after the second-largest Indian airline posted a record annual loss, two people familiar with the matter told Reuters.
- It would be one of Air India's largest publicly reported requests for shareholder funding since Tata took control of the former state-owned carrier in 2022.
- It highlights the challenges facing the airline as it undergoes a multi-billion-dollar revamp, including the refurbishment of its existing fleet.
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- NEW DELHI: Air India is seeking about US$1.5 billion in fresh equity from its owners Tata Sons and Singapore Airlines (SIA), months after the second-largest Indian airline posted a record annual loss, two people familiar with the matter told Reuters.
- It would be one of Air India's largest publicly reported requests for shareholder funding since Tata took control of the former state-owned carrier in 2022.
- It highlights the challenges facing the airline as it undergoes a multi-billion-dollar revamp, including the refurbishment of its existing fleet.
Sources: CNA