Singapore MP opposes Temasek funding for Air India amid US$1.5 billion plea

A Singapore opposition lawmaker has urged that state investor Temasek’s money not be used to shore up India" class="entity-link entity-organization" data-entity-id="23960" data-entity-type="organization">Air India, after the Indian carrier had asked owners Tata Sons and Singapore-airlines" class="entity-link entity-organization" data-entity-id="45386" data-entity-type="organization">Singapore Airlines, which Temasek majority-owns, for US$1.5 billion.Kenneth Tiong, a member of parliament for the opposition Workers’ Party, said ‌in a social media post on Wednesday that because Singapore-airlines" class="entity-link entity-organization" data-entity-id="45386" data-entity-type="organization">Singapore Airlines owns about 25 per cent of India" class="entity-link entity-organization" data-entity-id="23960" data-entity-type="organization">Air India and Temasek in turn owns most of the Singapore carrier, the request was “not only a question for private shareholders”.“I will not support, nor expect, any future use of Temasek’s funds to prop up India" class="entity-link entity-organization" data-entity-id="23960" data-entity-type="organization">Air India via Singapore-airlines" class="entity-link entity-organization" data-entity-id="45386" data-entity-type="organization">Singapore Airlines. If Singapore-airlines" class="entity-link entity-organization" data-entity-id="45386" data-entity-type="organization">Singapore Airlines wants to continue its bet on India" class="entity-link entity-organization" data-entity-id="23960" data-entity-type="organization">Air India, it should do so on its own two feet, and not on Temasek’s,” ⁠he said.“Whichever of the two writes the cheque, it will have a significant impact on Temasek,” he added, without elaborating further.Singapore’s Ministry of Transport, Temasek, ‌India" class="entity-link entity-organization" data-entity-id="23960" data-entity-type="organization">Air India, Tata Sons and Tiong did not respond to emails seeking comment.A Singapore-airlines" class="entity-link entity-organization" data-entity-id="45386" data-entity-type="organization">Singapore Airlines spokesperson said its board would carefully consider any requests for additional capital from India" class="entity-link entity-organization" data-entity-id="23960" data-entity-type="organization">Air India, weighing the group’s other capital requirements and ‌the Indian airline’s business strategy.Tiong said he had also filed a question for oral answer in parliament on September 8, asking the ‌transport minister whether losses from and the carrying amount in Singapore-airlines" class="entity-link entity-organization" data-entity-id="45386" data-entity-type="organization">Singapore Airlines’ foreign associates have been assessed against its ⁠capacity to provide essential transport ⁠services.