Air India is seeking $1.5 billion in fresh equity from Tata Sons and Singapore Airlines after reporting a record $2.33 billion lossAir India is seeking about $1.5 billion in fresh equity from owners Tata Sons and Singapore Airlines, months after the airline reported a record annual loss, according to a report by Reuters.The funding request would be one of Air India's largest publicly reported calls on its shareholders since the Tata Group took control of the former state-owned carrier in 2022, underscoring the financial strain of its multibillion-dollar turnaround.The request comes after Singapore Airlines' annual report in May showed the scale of the financial strain at Air India.Air India and its budget carrier Air India Express recorded combined losses of $2.33 billion in the fiscal year ended March, more than double the previous year's losses. The losses have also weighed on Singapore Airlines' earnings."Air India wants the funds immediately, though the infusion is likely to happen in tranches. Singapore Airlines would need to contribute its share of the proposed infusion for the investment to go through," one of the sources said.The airline is seeking the funding as fresh equity, the two sources said.Discussions are ongoing and no decision has been taken on the request, they added.Singapore Airlines, which owns about 25% of Air India, said it was working closely with Tata Sons to support the airline's transformation programme but declined to comment on Air India's finances.Air India's turnaround under pressureAir India's finances have come under further pressure due to airspace disruptions. These include Pakistan's ban on Indian carriers using its airspace, and the disruptions caused to its international network due to war in the Middle East. Added to this is the fallout from the Ahmedabad deadly crash last year that killed 260 people.The funding request comes as Tata Sons Chairman N. Chandrasekaran prepares to step down in February after months of disagreements with the group's controlling charitable trust, partly over Air India's losses.Chandrasekaran has said Air India's turnaround could take up to a decade, pointing to persistent supply-chain disruptions and the need to overhaul the airline's legacy systems, corporate culture and fleet.Air India has also sought to defer deliveries of hundreds of jets on order from Airbus and Boeing as Tata pushes the carrier to cut costs and reduce its losses."Air India is expected to continue requiring capital infusions in the coming years," one of the sources told Reuters.Singapore Airlines' annual report, released in May, showed the Air India group had recorded a loss of 3.56 billion Singapore dollars for the year ended March. SIA said that figure was equivalent to about $2.80 billion using the exchange rate prevailing in May, when it reported the results.The loss marked another setback for Air India's turnaround plans.KPMG audit also said Air India's challenging operating conditions and heightened geopolitical uncertainty were "indicators of impairment" for SIA's investment in the Indian airline.Air India, which is not listed in India and has not yet filed its earnings with local regulators, declined to comment to ReutersIts standalone loss for 2024-25 stood at $415 million, while losses including Air India Express totalled $1.13 billion."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," SIA said in its annual report, adding that it remained committed to its investment in the group.Air India's flight cuts have benefited foreign carriers, with Lufthansa Group and Cathay Pacific among airlines adding services to one of the world's fastest-growing aviation markets.Singapore Airlines said surging fuel costs linked to the Iran war were still "filtering through" and would weigh more heavily in the year ahead.