SIA's investment in Air India is "the long game". Indian carriers in general are bearing the full force of jet fuel price spikes as they typically do not engage in fuel hedging and jet fuel is around 55% of their operating expenditures. Short term pain is inevitable, with Air India reaching out to the Indian government for a return to Covid-19 era cost caps on Aviation Turbine Fuel and a reduction or deferment of taxes. However, with engineering and operational talent being diverted from SIA to Air India, I believe their expertise can help to turnaround the business in the long term. SIA can also use this opportunity to expand into the rapidly developing Indian economy through partnership with Air India.