Singapore Airlines’s investment in Air India is a long game, Singapore Airlines chief executive officer Goh Choon Phong said in a post result conference call on Friday.
He said Singapore Airlines backs Air India management’s transformation efforts and added that Indian carrier’s $ 2.6 billion loss (around ₹26,000 crore) in FY 2026 was due to factors such as closure of the Pakistan airspace and depreciation of Indian Rupee against the US dollar.
Singapore Airlines net profit declined 56 per cent in FY 2026 weighed down by Air India’s weak performance.
Singapore Airlines holds 25.1 per cent stake in Air India. Last March it invested an additional ₹1,080 crore in Air India. Asked about further capital injection, Goh replied that will have be discussed with Tata Sons.
Air India’s challenges are largely external with factors like airspace closure and weak rupee impacting it’s performance, he said. “ It is going to be a long game. There will be no short cuts,” he added on company’s transformation.
Yet, despite the challenges Air India continues to make tangible process, he said. Goh, who is Singapore Airline’s nominee on Air India board said there is significant transformation across training, in-flight services and lounges. This has resulted in recognition from both customers and industry.
Goh cited Air India’s net promoter score has improved by 50 points and that can not be achieved without transformative efforts and changes for customers. “We are committed to support Air India’s transformation,“ he said.
Singapore Airlines has seconded two of its senior executives to Air India to support transformation exercise. This includes Captain Basil Kwauk and Jeremy Yew Jin Kit who serve as chief operations officer and head of engineering, respectively.
Singapore Airlines investment in Air India is a part of its multi hub strategy and is borne from the fact that it has a limited home market with no domestic operations. India’s rising growth presents a long term opportunity which the airline hopes to capitalise on. While it is facing tough questions due to Air India’s poor performance, Goh remains optimistic about the investment in the airline. “This is a market which holds tremendous potential and is even more obvious today,” he asserted.
Published on May 15, 2026