SIA’s Air India investment internally funded, not paid for by Singaporeans: Jeffrey Siow

Singapore Airlines’ (SIA) investment in Air India is funded from its own internal earnings, not by Singaporeans as Workers’ Party (WP) MP Kenneth Tiong had publicly insinuated, said Minister for Transport Jeffrey Siow in Parliament on Tuesday (Sept 8).He was responding to both a parliamentary question filed by the first-term Aljunied MP, and his public statement — expressing concerns in SIA’s investment.The WP MP had asked the transport minister whether SIA’s losses from, and carrying amount in its foreign associates, have been assessed against the airline’s capacity to provide essential transport services.He also asked if such losses would trigger SIA’s notification duty prescribed under the Civil Aviation Authority Act of Singapore, as a designated operating entity.No doubt in SIA’s ability to deliver air servicesResponding to Tiong’s question, Siow stressed that the airline’s status as a designated operating entity is not a financial reporting rule.