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Air India’s net loss exceeded ₹10,000 crore in the first half of FY27, according to disclosures by Singapore Airlines (SIA), which owns a 25.1% stake in the carrier. That’s nearly half its ₹22,000 crore loss for the whole of FY26.
Breaking it down: SIA reports its share of Air India’s losses in its own results. This fell about 15.8% from 429.5 million Singapore dollars a year earlier, suggesting that Air India’s losses narrowed.
Using the same exchange rate, Air India’s estimated loss in the first half of FY26 would have been around ₹12,900 crore.
The improvement offered some relief to SIA, but Air India continues to weigh on its earnings.
The impact on SIA: Singapore Airlines’ net profit fell 43.9% YoY to 134 million Singapore dollars in the first half of FY27. Lower losses at companies it partly owns, mainly Air India, boosted earnings by 68 million Singapore dollars. A lower tax bill provided another 70 million Singapore dollars boost.
Background: SIA’s partnership with Tata Sons began in 2013, when they set up Vistara. After Vistara merged with Air India in November 2024, SIA received a 25.1% stake in the combined airline and invested another 360 million Singapore dollars.
