Air India is reportedly seeking at least ₹100 billion ($1.14 billion) in financial support from owners Singapore Airlines and Tata Sons.
The development follows a deadly Air India crash in June that killed more than 240 passengers. The incident plunged the carrier into its worst crisis, complicating its push to restore its reputation and modernise its fleet, Bloomberg reported.
Sources told the media house that the Tata Group-owned carrier is requesting funds to overhaul Air India’s systems and services as well as developing in-house engineering and maintenance departments, the report said.
Any financial support would be proportional to ownership, Bloomberg said, adding that the owners would decide if the funding will be an interest-free loan or via equity.
Tata Group, which bought Air India in 2022, has a 74.9 percent stake in the airline, with Singapore Airlines holding the…
