Tata Group-controlled Air India reported a net loss of S$3.56 billion (about Rs 26,800 crore) for FY26, marking a nearly 12-fold increase over the previous year, even as revenue more than doubled during the reporting period.
The financial details were disclosed in the latest annual report of Singapore Airlines released on May 14. Air India itself is yet to publicly release its FY26 financial statements.
According to the disclosures, Air India’s revenue rose sharply to S$10.53 billion (around Rs 79,219 crore) during FY26 as the airline expanded operations following the merger of Vistara with Air India in November 2024. The merger also resulted in Singapore Airlines becoming a 25.1 percent shareholder in the Tata Group-owned carrier.
In a statement, Singapore Airlines stated that it is ‘working closely with its partner Tata Sons to support Air India’s multi-year transformation programme’. Air India faces headwinds such as industry-wide supply chain constraints, airspace restrictions, constraints on operations to its key Middle East markets, and elevated jet fuel prices, it added.
The widening losses underscore the scale of financial and operational challenges confronting Air India as it attempts one of the aviation industry’s most ambitious turnaround programmes.
Air India, acquired by the Tata Group from the Government of India in 2022, has emerged as the conglomerate’s largest loss-making company. The airline has simultaneously been grappling with elevated fuel costs, adverse currency movements, fleet shortages and operational disruptions linked to global geopolitical tensions.
14/05/2026 Swaraj Baggonkar/Moneycontrol
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