SIA shares fall nearly 1.3% in wake of Air India crash

Singapore Airlines owns a stake in Air India after latter's merger with Vistara in 2024

- Sue-Ann Tan

Singapore Airlines (SIA) shares dropped on June 13, the day after an Air India plane crash that resulted in more than 265 casualties.

Shares of SIA, which holds a 25.1 per cent stake in Air India, were down 1.7 per cent, or 12 cents, at $6.91 as at the midday trading break, after earlier falling as much as 2.1 per cent. SIA's shares eventually closed at $6.94, down nearly 1.3 per cent, on June 13.

Meanwhile, the Straits Times Index was down 0.5 per cent at midday as Asian markets fell after Israel carried out air strikes against targets in Iran, raising fears of fresh conflict in the Middle East and sending oil prices soaring.

The STI closed at 3,911.42 on June 13, down nearly 0.3 per cent.

A day earlier, Air India Flight AI171 bound for London from India's Ahmedabad airport crashed outside the airport perimeter minutes after taking off, killing 241 people on board. It also killed people on the ground when it crashed into a medical college hostel.

SIA's stake in Air India came about after the Indian flagship carrier merged with Vistara in November 2024. Before the merger, Vistara was jointly owned by Tata Sons and SIA.