Temasek backs Singapore Airlines' Air India investment amid growing scrutiny
New Delhi, Aug. 29 -- Temasek Holdings Pvt. Ltd., Singapore's sovereign wealth fund and the majority shareholder of Singapore Airlines, has backed the airline's investment in Air India, even as scrutiny grows over its stake in the loss-making Indian carrier.
Air India's request for about $1.5 billion in fresh equity from owners Tata Sons Pvt. Ltd. and Singapore Airlines was first reported by Reuters earlier this week. Singapore Airlines owns 25.1% of India's second-largest airline, with the rest owned by Tata. News of the funding request prompted Kenneth Tiong, lawmaker from Singapore's opposition Workers' Party, to urge that Temasek's funds not to be used to shore up the Indian carrier.
Singapore's Business Times also ran a commentary ...
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