Singapore Airlines says India investments have been and will remain internally funded

Air India’s transformation is a “complex, multi-year programme and is not expected to be linear”, SIA says.

Singapore Airlines planes sit on the tarmac at Changi Airport in Singapore on Dec 8, 2020. (File photo: Reuters/Edgar Su)

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SINGAPORE: Singapore Airlines (SIA) said on Tuesday (Sep 8) its investments in India have been, and will continue to be, funded through internal resources.

The statement came after MP Kenneth Tiong (WP-Aljunied) asked in parliament whether losses from SIA’s foreign associates have been assessed against its capacity to provide essential transport services, among other questions.

SIA set up Vistara as a joint venture with Tata Sons in 2013. Following Vistara’s consolidation into Air India in November 2024, SIA holds a 25.1 per cent stake in the enlarged Air India Group.

Its investments in India are “subject to board approval and its disciplined capital allocation framework”, the airline said.

CNA Games Guess Word Crack the word, one row at a time Buzzword Create words using the given letters Mini Sudoku Tiny puzzle, mighty brain teaser Mini Crossword Small grid, big challenge Word Search Spot as many words as you can Show More Show Less An SIA spokesperson said the company has “one of the strongest financial positions in the airline industry”, with S$10.48 billion (US$8.27 billion) in cash reserves as of Jun 30, comprising S$9.10 billion in cash and bank balances and S$1.38 billion in fixed deposits. The group has less than S$3 billion in current debt obligations – those due within 12 months – which are well covered by its cash reserves, the spokesperson said. SIA's debt largely comprises fixed-rate notes, lease liabilities and loans. “SIA also has access to S$3.24 billion in committed lines of credit, all of which remains undrawn,” the spokesperson said, adding that any requests for additional capital would be evaluated under the group's capital allocation framework, taking into account Air India's business strategy, SIA Group's operating cash flow and its own investment requirements for new aircraft and products. “The Air India investment receives the full attention of the SIA board,” the spokesperson added. SIA had also said in a statement in 2022 , when it and Tata Sons announced the merger of Air India and Vistara, saying it would fully fund the investment with internal cash resources. Scrutiny over the investment has grown since a Reuters report last month cited sources as saying that Air India is seeking a further US$1.5 billion in support from owners Tata Sons and SIA, just months after it posted a record annual loss. Minister for Transport Jeffrey Siow told parliament on Tuesday that SIA's ability to serve Singaporeans is not affected by its investment in Air India. The airline is "nowhere near" a scenario where losses or other factors have materially constrained the resources available for its fleet maintenance or network operations here, he said. Senior Minister K Shanmugam said on Sep 5 that police are looking into racist and xenophobic online comments about SIA's investment in Air India, as well as the Nepal-Tibet disaster.

An SIA spokesperson said the company has “one of the strongest financial positions in the airline industry”, with S$10.48 billion (US$8.27 billion) in cash reserves as of Jun 30, comprising S$9.10 billion in cash and bank balances and S$1.38 billion in fixed deposits.

The group has less than S$3 billion in current debt obligations – those due within 12 months – which are well covered by its cash reserves, the spokesperson said. SIA's debt largely comprises fixed-rate notes, lease liabilities and loans.

“SIA also has access to S$3.24 billion in committed lines of credit, all of which remains undrawn,” the spokesperson said, adding that any requests for additional capital would be evaluated under the group's capital allocation framework, taking into account Air India's business strategy, SIA Group's operating cash flow and its own investment requirements for new aircraft and products.

“The Air India investment receives the full attention of the SIA board,” the spokesperson added.

SIA had also said in a statement in 2022 , when it and Tata Sons announced the merger of Air India and Vistara, saying it would fully fund the investment with internal cash resources.

Scrutiny over the investment has grown since a Reuters report last month cited sources as saying that Air India is seeking a further US$1.5 billion in support from owners Tata Sons and SIA, just months after it posted a record annual loss.

Minister for Transport Jeffrey Siow told parliament on Tuesday that SIA's ability to serve Singaporeans is not affected by its investment in Air India.

The airline is "nowhere near" a scenario where losses or other factors have materially constrained the resources available for its fleet maintenance or network operations here, he said.

Senior Minister K Shanmugam said on Sep 5 that police are looking into racist and xenophobic online comments about SIA's investment in Air India, as well as the Nepal-Tibet disaster.

"COMPLEX, MULTI-YEAR PROGRAMME"

SIA said on Tuesday that Air India's transformation is a "complex, multi-year programme" that is "not expected to be linear".

Challenges cited include the prolonged closure of Pakistani airspace to Indian carriers, the Air India crash last year that killed 260 people, the rupee's depreciation against the US dollar, supply chain disruptions, the loss of a key market due to the Middle East conflict and sustained high fuel prices.

“At the same time, Air India has made tangible progress across customer experience and operational performance,” said the spokesperson.

SIA noted that Air India's net promoter score, which reflects how likely customers are to recommend a brand, has increased by more than 70 points since November 2022. In May, the carrier received a four-star airline rating from review site Skytrax, while Air India Express was certified as a four-star low-cost airline, “on par with leading international carriers”.

“SIA and Tata Sons have both publicly acknowledged that there is still much work to be done,” said the spokesperson. “Both remain committed to supporting Air India’s long-term transformation programme.”

The spokesperson said Air India has a strong presence in both the full-service and low-fare segments, and in domestic and international markets, with access to "valuable slots and air traffic rights at key domestic and international airports" that were not available to Vistara.

“Today, the SIA Group is the only non-Indian airline group with a direct stake in this important and fast-growing market,” said the spokesperson, adding that the investment has deepened commercial cooperation between the two carriers and strengthened Singapore and India's complementary roles as aviation hubs.

This has also given Singapore “greater access to India’s vast and fast-growing aviation market, while connecting India more extensively through Singapore to Changi Airport’s global network”.

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新加坡航空公司表示，印度航空的转型是一个“复杂的多年计划，预计不会是线性的”。

2020年12月8日，新加坡航空公司的飞机停在新加坡樟宜机场的停机坪上。（资料照片：路透社/Edgar Su）

这段音频由人工智能工具生成。

新加坡：新加坡航空公司（SIA）周二（9月8日）表示，其在印度的投资过去和将来都将由内部资源提供资金。

此前，国会议员张建宗（工人党-阿裕尼）在国会提出质询，询问新航海外关联公司的损失是否已根据其提供基本运输服务的能力进行评估，以及其他一些问题。

2013 年，新加坡航空与塔塔集团成立了合资企业维斯塔拉航空。2024 年 11 月，维斯塔拉航空并入印度航空后，新加坡航空持有扩大后的印度航空集团 25.1% 的股份。

该航空公司表示，其在印度的投资“须经董事会批准并遵守其严格的资本配置框架”。

CNA游戏 猜词游戏 逐行破解单词 流行词游戏 用给定的字母组成单词 迷你数独 小谜题，脑力挑战 迷你填字游戏 小方格，大挑战 单词搜索 尽可能多地找出单词 显示更多 显示更少 新加坡航空发言人表示，截至6月30日，公司拥有104.8亿新元（82.7亿美元）的现金储备，其中包括91亿新元的现金和银行存款以及13.8亿新元的定期存款，公司“在航空业拥有最强劲的财务状况之一”。发言人表示，集团目前的债务（12个月内到期的债务）不足30亿新元，完全由其现金储备覆盖。新航的债务主要包括固定利率票据、租赁负债和贷款。发言人表示：“新航还拥有32.4亿新元的已承诺信贷额度，目前尚未动用。”他补充说，任何追加资金的请求都将根据集团的资本配置框架进行评估，评估将考虑印度航空的业务战略、新航集团的运营现金流以及自身对新飞机和产品的投资需求。发言人还表示：“新航董事会高度重视对印度航空的投资。”新航曾在2022年与塔塔集团宣布印度航空和维斯塔拉航空合并时发表声明称，将以内部现金资源全额资助这项投资。路透社上月援引消息人士的话报道称，印度航空在公布创纪录的年度亏损后几个月，正寻求从其所有者塔塔集团和新航处获得15亿美元的额外支持，此后，外界对这项投资的关注度日益提高。交通部长萧敬腾周二在国会表示，新航对印度航空的投资不会影响其服务新加坡公民的能力。他表示，该航空公司目前的情况“远未达到”因亏损或其他因素而严重限制其机队维护或航线网络运营资源的地步。高级部长尚穆根9月5日表示，警方正在调查网上针对新加坡航空投资印度航空以及尼泊尔-西藏空难的种族主义和仇外言论。

新加坡航空公司发言人表示，该公司拥有“航空业最强劲的财务状况之一”，截至6月30日，现金储备达104.8亿新元（82.7亿美元），其中包括91亿新元的现金和银行存款余额以及13.8亿新元的定期存款。

发言人表示，该集团目前的债务（即12个月内到期的债务）不足30亿新元，其现金储备足以覆盖这些债务。新航的债务主要包括固定利率票据、租赁负债和贷款。

发言人表示：“新航还拥有 32.4 亿新元的承诺信贷额度，目前尚未动用。”他还补充说，任何追加资本的请求都将根据集团的资本配置框架进行评估，同时考虑到印度航空的业务战略、新航集团的经营现金流以及自身对新飞机和产品的投资需求。

发言人补充说：“印度航空的投资受到了新加坡航空董事会的全力关注。”

新加坡航空曾在 2022 年的一份声明中表示，当时该公司与塔塔集团宣布印度航空和维斯塔拉航空合并，并表示将用内部现金资源全额资助这项投资。

自路透社上个月援引消息人士的话报道印度航空在公布创纪录的年度亏损几个月后，正寻求从其所有者塔塔集团和新加坡航空获得 15 亿美元的额外支持以来，对这项投资的审查力度不断加大。

交通部长萧敬腾周二在国会表示，新加坡航空公司对印度航空公司的投资不会影响其为新加坡人提供服务的能力。

他表示，该航空公司“远未达到”因亏损或其他因素而导致其机队维护或网络运营资源严重受限的情况。

9月5日，高级部长尚穆根表示，警方正在调查网上有关新加坡航空投资印度航空以及尼泊尔-西藏空难的种族主义和仇外言论。

“复杂的多年计划”

新加坡航空公司周二表示，印度航空的转型是一个“复杂的多年计划”，而且“预计不会是线性的”。

列举的挑战包括巴基斯坦领空长期对印度航空公司关闭、去年印度航空坠毁造成 260 人死亡、卢比对美元贬值、供应链中断、由于中东冲突而失去一个关键市场以及持续高企的燃油价格。

发言人表示：“与此同时，印度航空在客户体验和运营绩效方面取得了切实进展。”

新加坡航空指出，印度航空的净推荐值（反映顾客推荐品牌的可能性）自 2022 年 11 月以来提高了 70 多分。今年 5 月，印度航空获得了点评网站 Skytrax 的四星级航空公司评级，而印度航空快运则被认证为四星级低成本航空公司，“与领先的国际航空公司不相上下”。

发言人表示：“新加坡航空和塔塔集团都已公开承认，仍有许多工作要做。双方都将继续致力于支持印度航空的长期转型计划。”

发言人表示，印度航空在全服务航空和低成本航空领域，以及国内和国际市场都拥有强大的影响力，并获得了维斯塔拉航空所不具备的“主要国内和国际机场的宝贵时刻和空中交通管制权”。

“如今，新加坡航空集团是唯一一家直接投资于这个重要且快速增长市场的非印度航空公司集团，”发言人表示，并补充说，这项投资加深了两家航空公司之间的商业合作，并加强了新加坡和印度作为航空枢纽的互补作用。

这也让新加坡“更容易进入印度庞大且快速增长的航空市场，同时通过新加坡将印度更广泛地连接到樟宜机场的全球网络”。

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