Consumers Are Financing Their Groceries. What Does It Say About the Economy?
Ms Tia Hodge, who uses a buy now, pay later service to help cover the cost of groceries, with her husband Jason and their daughter Naveah. PHOTO: KENDRICK BRINSON/NYTIMES
For some American consumers, 'buy now, pay later' loans aren't just for big-ticket items like televisions and vacations. They're for groceries, too.
When Ms Tia Hodge stocked up at her local Kroger in early April, her bill was nearly US$400 (S$516). At checkout, she scanned her app from Klarna, a 'buy now, pay later' company that offers short-term loans. Klarna paid the grocery store for the 71 items in the cart. Hodge split her payments to Klarna into four instalments of about US$100, with zero interest.
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3 hours ago
- Straits Times
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Under Tata ownership, Air India's chief executive Campbell Wilson helmed a five-year intensive transformation plan beginning in 2022 to revamp an ageing and outdated fleet, upskill staff, upgrade IT systems, and create a world-class airline on a par with rivals like Emirates. Air India's losses had reduced by more than 40 per cent since the privatisation in January 2022 as it aimed to break even. It flew a total of 43.5 million passengers during the financial year April 2024 to March 2025. In April 2025, Air India announced a US$400 million (S$513.5 million) fleet upgrade programme for 106 of its 198 aircraft. This involved refurbishing seats, carpets, curtains and lavatories. The full-service carrier, which started making money in 2025, had made financial gains reportedly from cost cutting and streamlining operations, aided by lower fuel costs and a surge in passenger numbers. Sources close to the company said the airline was eyeing full profitability by 2027, once the low-cost arm of the group, Air India Express, which has been expanding its fleet, also increases its revenue. Mr Campbell , a former CEO of Scoot, had reportedly informed employees during a townhall in June that Air India was advancing towards becoming 'a self-sustaining company'. The crash changes, if not all the well-laid plans, many of them. 'We are devastated. All of us are wondering what went wrong,' an Air India pilot who has worked for over 15 years in the company told ST, requesting anonymity. Aviation expert Sanjay Lazar, chief executive of Availalaz Consultants in Mumbai, said: 'A tragedy like this strikes at the heart of an airline. It will set the company back tremendously, as crashes do. The morale of personnel and external consumer trust will have to be rebuilt.' This is the first accident of an Air India wide-body aircraft since 1985, said Mr Lazar. 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Air India operates as a standalone entity, and any liabilities arising from the crash, be it aircraft damage, compensation or lawsuits, are expected to be covered through aviation insurance, analysts who track aviation finance and safety told ST. Shares of Singapore Airlines, which holds a 25.1 per cent stake in Air India, dropped by 1.7 per cent on the Singapore Exchange. Rohini Mohan is the India Correspondent based in Bengaluru. Join ST's Telegram channel and get the latest breaking news delivered to you.
Straits Times
3 hours ago
- Straits Times
Swiss government approves package of measures for closer EU ties
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Straits Times
3 hours ago
- Straits Times
Dutch government supports NATO spending target of 5% of GDP
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