Air India seeks $1.5bn from Tata, SIA as Pak airspace ban, Middle East war hit ops

Air India is seeking about $1.5 billion in fresh equity from owners Tata Sons and Singapore Airlines, months after the airline reported a record annual loss, according to a report by Reuters.The funding request would be one of Air India's largest publicly reported calls on its shareholders since the Tata Group took control of the former state-owned carrier in 2022, underscoring the financial strain of its multibillion-dollar turnaround.The request comes after Singapore Airlines' annual report in May showed the scale of the financial strain at Air India.Air India and its budget carrier Air India Express recorded combined losses of $2.33 billion in the fiscal year ended March, more than double the previous year's losses. The losses have also weighed on Singapore Airlines' earnings."Air India wants the funds immediately, though the infusion is likely to happen in tranches.