Singapore Airlines Stock Drops After Ahmedabad Crash
How the Crash Affected Singapore Airlines
Singapore Airlines (SIA) saw its shares fall on the Singapore Exchange. This drop happened after an Air India flight crashed in Ahmedabad.
Stock Market Reaction
- SIA owns 25.1% of Air India.
- By midday, its stock had dropped by 1.7% to SGD 6.91.
- Earlier, the stock had fallen by as much as 2.1%.
What We Know About the Crash
A flight from Air India was heading to London. It crashed soon after taking off from Ahmedabad airport. Sadly, at least 265 people, including passengers and crew, lost their lives.
Current Market Conditions
The Straits Times Index (STI) went down by 0.5%. Asian markets reacted to news of Israeli airstrikes on Iranian targets. People are worried about stability in the Middle East. Because of this, oil prices have gone up a lot.
Singapore Airlines Speaks Out
Singapore Airlines shared their support for Air India. They said:
“We are giving Air India our full support and all the help they need right now.”
They also sent their deepest condolences to everyone affected by the crash.
Investment and Partnership Details
SIA invested in Air India after merging with Vistara in November 2024. Before this merger, Vistara was a joint project between Tata Sons and SIA. This investment gives SIA a direct part in India’s fast-growing aviation market. Additionally, SIA has a codeshare agreement with Air India.
