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.
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