Market Chatter: Singapore Airlines Receives Financial Support Request from Air India

MT Newswires10-31

Singapore Airlines (SGX:C6L), along with Tata Sons, received a request for funds from its jointly-owned unit, Air India, of around 100 billion rupees, according to a report by Bloomberg on Friday.

The request comes as the unprofitable Indian air carrier looks to overhaul its systems and services following a deadly plane crash earlier in the year, the report said.

Singapore Airlines has a 25.1% stake in the ailing airline, the report noted.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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