Singapore Airlines faces a tough test over Air India’s record losses
The true test for management will be the gruelling task of convincing its shareholders to bite the bullet
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[SINGAPORE] Looking at the latest news emerging from Air India, it is understandable why a growing group of investors might want Singapore Airlines (SIA) to cut its losses, pack its bags and abandon its Indian ambitions.
The trigger for this frustration stems from Air India’s bleed of an estimated 220 billion rupees (S$3 billion) for the full year ended March – materially higher than previously expected.
The record loss is said to have prompted the company to seek additional aid from controlling shareholder Tata Group, as well as SIA, which owns 25.1 per cent of the carrier.
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