Let SIA decide on Air India investment: Jeffrey Siow

Singapore Airlines’ 25.1 per cent stake in Air India does not mean Air India’s losses automatically become SIA’s liabilities, said Minister for Transport Jeffrey Siow in parliament on Tuesday (Sep 8). He said SIA’s board will consider any capital requests on their commercial merits, adding that SIA has cash reserves of more than S$10 billion against current liabilities of under S$3 billion.

“It’s easy to criticise,” said Mr Siow, as he questioned what alternatives there were for SIA’s Air India stake. He said the best course of action was to leave SIA’s board and management to make such decisions as it was their “duty and their responsibility to do so”. #sgnews #singapore

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