Singapore Airlines tumbles 2.1% after Air India plane crash
SIA holds a 25.1 per cent stake in the Indian flag carrier.
At around 9 am when the market opened, SIA shares hit a month-to-date low of S$6.88, down 2.1 per cent or S$0.15 from Thursday's closing price of S$7.03, with around 723,200 shares transacted.
By 9.17 am, the counter rose to S$6.92, still down 1.6 per cent or S$0.11, with 1.8 million shares changing hands.
On Thursday, an Air India Boeing 787-8 Dreamliner headed for London's Gatwick airport crashed into a medical college hostel in the city of Ahmedabad, Gujarat, killing more than 240 people.
SIA holds a 25.1 per cent stake in the Indian airline following a merger of its Indian full-service airline Vistara – joint venture with Mumbai-headquartered Tata Sons – into India's national carrier.
In SIA's annual report for FY2023 and FY2024, the group's chairman Peter Seah said that the merger of Air India and Vistara was underway, adding that SIA was working with Tata to secure necessary approvals.
India's national newspaper The Hindu reported that Air India shored up its revenue to a record level of 610 million rupees (S$9.1 million) in the fiscal year 2025 and clocked a profit excluding, exceptional items, in the second half.
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