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 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. 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.
CNA
