The November 2022 deal between Singapore Airlines and Tata Sons to further inject USD 267 million into Air India is one of the key strategic initiatives for future growth mentioned in the quarterly financial report.
The airlines said in a statement that this is due to "the robust demand for air travel continuing into the third quarter of FY2022/23, building on the momentum that began after Singapore relaxed its border restrictions in April 2022." SIA financial year starts in April.
Last week, Singapore Airlines, the city-state's national carrier, reported a record first-half operating profit of SGD 1.23 billion (USD876 million) for the period which ended in September. It was also the best-ever quarterly profit of SGD 678 million, eclipsing the previous best of SGD 674.