MUMBAI: Amid mounting losses and operational challenges at Air India, Singapore Airlines CEO Goh Choon Phong met senior Tata Group executives in Bombay House (Tata Group headquarters in Mumbai) on Thursday. Singapore Airlines holds a 25.1% stake in Air India following the 2022 merger of Air India and Vistara. The rest is with the Tata Group.
The key board meeting took place in the backdrop of Air India's worsening financial woes, marked by a staggering FY26 loss of over Rs 22,000 crore, the highest on record. It is being reported that the airline is seeking funds from promoters.
The losses have escalated to record levels due to frequent airspace closures in West Asia and a permanent closure in Pakistan since March last year, rising expenses and the impact of rupee devaluation against the US dollar.
These challenges exacerbate the repercussions from the tragic Ahmedabad (Flight Al 171) crash on June 12, 2025, which resulted in 241 people on board and 19 people outside losing their lives.
The meeting also took place as Air India is grappling with a leadership vacuum. Air India on April 7 formally announced the resignation of Chief Executive Officer & Managing Director, Campbell Wilson. Before Wilson’s resignation, Air India Express' MD Aloke Singh stepped down from his role at Air India Express in March this year.
Wilson will remain in the role until his successor is announced. He had joined Air India in September 2022 following the privatisation of the airline and his five-year term was scheduled to end in September next year.
It is being reported that stakeholders from Singapore Airlines and Tata Group are likely to have discussed strategies in the meeting, focusing on slashing costs, enhancing services and plotting sustained investments.