Air India Crash Impacts Singapore Airlines Shares

Shares of Singapore Airlines (SIA) fell on the Singapore Exchange on Friday after an Air India plane crash in Ahmedabad, India. The tragic incident, involving a flight bound for London, resulted in 265 fatalities.

By midday, SIA shares decreased by 1.7%, even reaching a 2.1% drop earlier. This decline comes amidst broader market instability, partly triggered by new Middle East tensions following Israeli airstrikes on Iran, which simultaneously drove up oil prices.

Singapore Airlines, holding a 25.1% stake in Air India through a merger deal, has expressed its deepest condolences, indicating their ongoing support for the Indian carrier during this challenging period.

(With inputs from agencies.)