India Daily: Singapore Airlines Denies Claims of Raising Stake in Air India

Singapore Airlines has refuted a media report saying it may raise its stake in Tata Group-owned Air India from the 25.1 percent which it secured as part of the group’s Vistara merger to create a bigger full-service national carrier. “The Mint story dated 16 June 2023 is incorrect. There (is) no change in SIA’s position from the November 2022 announcement,” Singapore Airlines said. Singapore’s state carrier’s statement was in response to a report by Indian daily Mint, which said the carrier had expressed its desire to gradually raise its stake in the Indian airline to about 40 percent. The media report, citing three people familiar with the development, stated Singapore Airlines and the Tata Group have had initial talks regarding the potential increase in stake. 

Last November, Tata had announced Air India’s merger with Vistara, its joint venture with Singapore Airlines, in a bid to strengthen its presence in domestic and international skies. In April, t