Singapore Air backs Tewolde's Air India reset, but losses keep investors on edge
NEW DELHI, Nov. 12 -- Singapore Airlines has backed Air India chief executive Tewolde Gebremariam's push to cut costs, improve operational efficiency and unlock new revenue streams, even as mounting losses and questions over further funding keep investor scrutiny firmly on the investment.
The turnaround, however, will take time to show results, Singapore Airlines (SIA) chief executive Goh Choon Phong said on Thursday, offering a public endorsement of the new chief's strategy while tempering expectations of an early recovery.
At its analyst and media briefing on Thursday, SIA, which holds a 25.1% stake in Air India, outlined a series of initiatives introduced by Tewolde, the former Ethiopian Airlines chief who took charge of Air India in...
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