Air India loss hurts largest shareholder SIA

Losses at Air India have caused the profit of its largest shareholder, Singapore Airlines, to plunge in the six months ended September.

- Abhishek Law [e-mail]

Singapore's flag carrier's net profit dropped 67.8% year-on-year to S$239 million for the April-September period, according to its statement. It attributed the decline to accounting losses primarily from its associate company Air India, where Singapore Airlines owns a 25.1% equity.

“...while the Group’s share of results of associated companies was S$ 417 million lower year-on-year, notably reflecting Air India’s losses which were not included in the previous year net profit,” it said in a statement.