Singapore Airlines has open mind on making initial bid for Air India

Singapore Airlines has an open mind about making an initial bid for a stake in state-run Air India, the head of the Singaporean carrier’s India business said Thursday. India said last week it would invite initial bids this month for a stake in the flag carrier. The cabinet approved the sale last year after successive governments poured billions of dollars into the indebted airline. “India is a strategic market for Singapore Airlines. We have an open mind,” said David Lim, GM for India, when asked whether Singapore Airlines would bid. He did not elaborate. Several companies have expressed an interest in buying some of Air India’s businesses. India cleared a proposal in January to allow foreign investors to own up to 49% of Air India, opening the way for global airlines to bid. SIA operates 98 flights a week to India and plans to increase that to 104 by summer. Its low-cost airline, Scoot operates 46 flights to India, while Vistara is expected to launch its first international flights this year.<br/>