[SINGAPORE] Singapore Airlines (SIA) chairman Peter Seah assured shareholders at the group’s 54th annual general meeting (AGM) that the board of directors is on top of its billion-dollar investment in Air India.
“I can assure you that this subject receives full attention from the whole board, so it’s not delegated to management,” he said in response to several questions raised on the subject on Friday (Jul 24), during the 1.5-hour-long proceedings at Marina Bay Sands Expo and Convention Centre.
Seah pointed out that the investment jointly made with Indian investor Tata Sons gets “discussed in every board meeting”, and the directors will continue to review the joint venture.
As for how much more SIA will invest in Air India, Seah said that “we’ll have to take it as it comes along” even as he and CEO Goh Choon Phong extolled the potential of the Indian aviation market.
The chairman gave this response after Goh declined to reveal the bases for SIA’s decisions on whether there would be further investments in Air India, or its maximum quantum of investment before calling it quits.
