Temasek backs SIA's Air India investment amid growing scrutiny

NEW DELHI: Temasek, the majority shareholder of Singapore Airlines (SIA), on Saturday (Aug 29) backed the airline's investment in Air India, as scrutiny grows over its stake in the loss-making Indian carrier.Air India's request for about US$1.5 billion in fresh equity from owners Tata Sons and SIA was first reported by Reuters this week. SIA owns 25.1 per cent of India's second-largest airline, with the rest owned by Tata.News of the funding request prompted Mr Kenneth Tiong, a lawmaker from Singapore's opposition Workers' Party, to urge that Temasek's funds not be used to shore up the Indian carrier.Singapore's Business Times also ran a commentary arguing that SIA could not realistically exit its Air India stake, with Tata the only plausible buyer. It questioned what its 25.1 per cent hol