Singapore Airlines denies media report on raising stake in Air India

SINGAPORE Airlines (SIA) on Friday (Jun 16) refuted a media report saying it may raise its stake in Air India from the 25.1 per cent which it secured as part of Tata Group’s Vistara merger to create a bigger full-service India’s national carrier.

Singapore’s state carrier’s statement was in response to a report by Indian newspaper Mint, which said the carrier had expressed its desire to gradually raise its stake in the Indian airline to about 40 per cent.

“The Mint story dated Jun 16, 2023, is incorrect. There (is) no change in SIA’s position from the November 2022 announcement,” SIA said.

The media report, citing three people familiar with the development, stated SIA and Tata Group have had initial talks regarding the potential increase in stake, in response to a request from a Singapore-based airline.

Air India did not immediately respond to a Reuters request for comment.

Last November, autos-to-steel conglomerate Tata had announced Air India’s merger with Vistara, its joint venture with SIA, in a bid to strengthen its presence in domestic and international skies. REUTERS