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​Ratan Tata's enduring legacy of compassion — caring for society and animals

Singapore: <keyword id="20036942" type="General" weightage="100" keywordseo="Singapore-Airlines" source="keywords" meta.keywordsubtype="org" meta.entityname="Singapore Airlines" meta.hostid="83" meta.entityid="Singapore Airlines">Singapore Airlines</keyword> on Friday said it has received approval from the Indian government for the foreign direct investment as part of the proposed merger of <keyword id="20018887" type="General" weightage="20" keywordseo="Vistara" source="keywords" meta.keywordsubtype="org" meta.entityname="Vistara" meta.hostid="83" meta.entityid="Vistara">Vistara</keyword> with <keyword id="19896871" type="General" weightage="20" keywordseo="Air-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Air India" meta.hostid="83" meta.entityid="Air India">Air India</keyword>, a deal that will create one of the world's largest airline groups. With the clearance in place, the merger that will see Singapore Airlines acquiring a 25.1 per cent stake in Air India, is expected to be completed by the end of this year. The proposed merger was announced in November 2022. Air India is owned by <keyword id="19924335" type="General" weightage="20" keywordseo="Tata-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Group" meta.hostid="83" meta.entityid="Tata Group">Tata Group</keyword> and Vistara is a 51:49 joint venture between Tatas and Singapore Airlines. In a regulatory filing on Friday, Singapore Airlines (SIA) said it has received approval from the Government of India for Foreign Direct Investment (FDI) into the enlarged Air India as part of the proposed merger. "The FDI approval, together with anti-trust and merger control clearances and approvals, as well as other governmental and <keyword id="19941849" type="General" weightage="20" keywordseo="regulatory-approvals" source="keywords">regulatory approvals</keyword> received to-date, represent a significant development towards the completion of the proposed merger," the airline said in the filing to the Singapore Stock Exchange. The airline also said the completion of the merger continues to be subject to compliance by the parties with applicable Indian laws, which is currently expected to be completed in the next few months. "At this juncture, completion of the proposed merger is anticipated to occur by the end of 2024," it added. According to Singapore Airlines, the parties are in discussions to extend the long stop date for the completion of the merger. Earlier, it was expected to be October 31, 2024. The merger, which will create one of the biggest airline groups, was approved by the National Company Law Tribunal (NCLT) in June. In March, Singapore's competition regulator CCCS gave a conditional nod for the proposed deal. Prior to that in September 2023, the deal received approval from the Competition Commission of India (CCI), subject to certain conditions. "SIA will make the necessary announcement(s) upon completion of the proposed merger or in the event that there are other significant developments," the filing said on Friday.

Singapore Airlines gets FDI nod from Indian govt for Vistara-Air India merger

After facing significant <keyword id="20192095" type="General" weightage="20" keywordseo="flight-disruptions" source="keywords">flight disruptions</keyword> recently, <keyword id="21269688" type="General" weightage="20" keywordseo="Vistara-CEO" source="keywords">Vistara CEO</keyword> <keyword id="20128232" type="General" weightage="20" keywordseo="Vinod-Kannan" source="keywords">Vinod Kannan</keyword> on Thursday told the airline staff that the "worst is behind us" and operations have already stabilised. Pilot woes have forced the <keyword id="21105887" type="General" weightage="20" keywordseo="Tata-Group-airline" source="keywords">Tata Group airline</keyword> to temporarily cut down capacity by 10 per cent or 25-30 flights daily. While acknowledging that things should have been planned better, Kannan said it has been a "learning experience". He also said it has been a challenging start to the new financial year and the airline faced significant operational disruption from March 31 to April 2. "The anxiety and frustration felt by our customers was matched in even measure to the pain that all of us felt in seeing our much-loved brand drawing negative commentary from various quarters... I assure you that the worst is behind us, and we have already stabilised our operations, with our on-time performance (OTP) increasing to 89 per cent on 9 April 2024 (second highest among all Indian airlines)," he said in a message to the staff. The full-service carrier has around 6,500 people, including about 1,000 pilots. In the wake of the disruptions, the top management of the airline had held a virtual meeting with the pilots. One of the reasons for the disruptions was also that some section of pilots reporting sick to protest against the new contract that will result in pay revision. According to Kannan, there were a multitude of reasons for the disruptions, including ATC delays, bird hits, and maintenance activities early last month. "We were stretched in our pilot rosters and there was not enough resilience to withstand injects that we would otherwise have weathered. We could and should have planned better, and this has been a learning experience for us which we will review thoroughly," the <keyword id="20018887" type="General" weightage="100" keywordseo="Vistara" source="keywords" meta.keywordsubtype="org" meta.entityname="Vistara" meta.hostid="261" meta.entityid="Vistara">Vistara</keyword> chief said. Most of the cancellations were in the domestic network and the carrier is working on plans for May and beyond. "While the events of the last week may seem like a setback, the hallmark of our organisation has always been that we have bounced back from tough situations ' and emerged stronger. "... I trust each of you to continue to put in all efforts to ensure that we do not let our brand, and our customer, down," Kannan said. As we emerge from this difficult phase, he said it is this commitment to being a customer-oriented airline that will help it bounce back stronger. The airline has also reached out to customers impacted by the cancellations and delays over the affected period. "We have provided the necessary compensation as per the regulatory mandate, and have also offered additional service recovery vouchers for passengers whose flights were significantly delayed," the Vistara chief said. The carrier has 70 aircraft in its fleet and is to operate more than 300 flights daily in the ongoing summer schedule. "Dealing with disappointed customers is never easy but amidst all the chaos, we have received feedback on how some of you went beyond the call of duty to assist our customers to the extent possible," Kannan said and expressed gratitude to the pilots for cooperating and stepping up to support operations.

Vistara CEO says 'worst is behind us', flight operations have stabilised

<ul><li>As per WPP and Kantar’s latest <keyword id="3755038" type="PERSON" weightage="20" keywordseo="BrandZ-Report">BrandZ report</keyword>, economic impact of COVID-19 led to a 6% drop in total value of ranking. </li><li>In challenging economic and social conditions created by the global pandemic and a pre-COVID-19 slowdown in the Indian economy, brands had to adapt quickly, with innovation and agility helping to fuel growth.</li><li>We caught up with brands like TCS, <keyword id="106317" type="CITY" weightage="20" keywordseo="Asian-Paints">Asian Paints</keyword> and Bharti <keyword id="15491" type="COMPANY" weightage="20" keywordseo="Airtel">Airtel</keyword> to understand how they won their consumers’ trust even during gloomy times. </li></ul>Last week, WPP &amp; Kantar’s launched its BrandZ report featuring Top 75 Most Valuable Indian Brands 2020 report. This year’s ranking was worth $216 billion in brand value, a decline of 6% over last year, driven largely by a slowdown in the brand value of companies in the banking and automotive sectors. Despite the overall decline in brand value of the Top 75, 26 brands increased in value and five were new entrants. India’s top brands also performed well against other countries where declines in total brand value were much greater. For millions of Indians who stayed at home during the crisis, telecom providers have supplied a much-needed lifeline and fulfilled a growing demand for data-driven services like online gaming and media streaming. This helped Airtel (no.4, +36%, $13.9 billion) become the top telecom brand, while Jio saw its value increase 26%. Trusted brands have weathered the crisis better than brands with a low trust index. In a category where it is difficult to gain <keyword id="787639" type="PERSON" weightage="20" keywordseo="consumer-trust">consumer trust</keyword>, Airtel bet on its brand strategy of being open and transparent. It is now one of India’s <keyword id="418681" type="ORGANIZATION" weightage="20" keywordseo="Most-Trusted-Brands">most trusted brands</keyword> and grew by 36% in its brand value over last year. On what has helped Airtel float in an unstable market, Shashwat Sharma, CMO, Bharti Airtel, said, “As a brand we believe differentiation is critical, especially when it comes to delivering a brilliant customer experience and bringing unique services and solutions to customers. Through these uncertain times, we have been grateful for the opportunity to be able to deliver this differentiation and be the backbone that helped people to stay connected. From children having to take their classes online, to increased digital payments, to businesses finding new ways to keep their employees working, to enabling customers to have a few moments of entertainment in an otherwise dreary time, we have played a critical role in all their lives. Sharma added, “We see a silver lining to this disruption and we took a lead to help our customers in reducing disruptions in this unprecedented situation. We introduced several innovations within a matter of days so our customers can stay connected at all times – from online acquisition to simplifying payments journeys to the launch of Work from Home solutions to educating customers to recharge online, to having others do it for them enabling customers to easily access a varied range of services digitally.” Despite the paints industry struggling in India, top 5 brand Asian Paints (no. 5, $8.0 billion), grew its brand value by 14%, by focusing on meaningful difference, communications and innovation. The market leader, it has successfully brought out new products, while building a strong distribution network and raising its profile among key influencers like architects and professional painters. Addressing your consumers’ concerns tactfully plays an important role in improving brand value. Amit Syngle, MD and CEO, Asian Paints, said, “Asian Paints has always had a deep emotional connection with homes and as a legacy, owns ‘beautiful homes’ in a strong way. We have been able to nestle in the hearts of the consumers by being part of their journey, helping them design their dream home for years. In 2020, at the onset of the pandemic, our driving principle was to support the Government and the country and we pivoted our initiatives and communication towards the happiness and well-being of our consumers and partners. We have always invested in taking care of all our stakeholders and providing support during trying times. At Asian Paints, our core dictates us to care for our customers, the only way we know to earn their trust.” <keyword id="6357585" type="COMPANY" weightage="20" keywordseo="tata-consultancy-services">Tata Consultancy Services</keyword> was valued at 14,582M USD and placed at number 3. Rajashree R, CMO, TCS, said, “We are honoured to be amongst the top 3 brands in India. This is a recognition of the defining role TCS has played in transforming and globalizing India and its people. As part of the Digital India movement, we have played a key role in transforming industries, institutions and public services, thus becoming part of every Indian. With our thought leadership framework like Business.4.0 powered by the technology and innovation prowess, we have been crafting and enabling growth and transformation journeys for leading businesses all over the world as well as India. We would like to thank Kantar for recognizing the power of the TCS Brand and the achievements of the 450,000 employees behind it.”

Here is how Airtel, TCS and Asian Paints continue to win consumer trust despite challenging times

New Delhi, Feb 12 () Tata Trusts on Wednesday said its trustees have decided to appoint Srinath Narasimhan as the chief executive of the Trusts with effect from April 1, 2020. Currently, Narasimhan is the managing director of Tata Teleservices Ltd and Tata Teleservices (Maharashtra) Ltd, Tata Trusts said in a statement. Having joined the Tata Administrative Services (TAS) in 1986, Narasimhan has held various assignments in the Tata group, including as the managing director of Tata Communications Ltd, it added. The trustees also appointed Pramit Jhaveri, former chief executive officer of Citi India and former vice chairman of banking, capital markets and advisory for Asia Pacific, as a Trustee of the Sir Dorabji Tata Trust. His appointment is effective from February 12, 2020, it added. Tata Trusts hold 66 per cent of the equity share capital of Tata Sons, the principal investment holding company and promoter of Tata companies. Started in 1892, Tata Trusts support education, health, livelihood generation, and art and culture through its various philanthropic initiatives. RKL RUJ

Srinath Narasimhan appointed as Tata Trusts' chief executive

The process of the world's transition towards 'net-zero' needs to be inclusive to avoid accentuation of social inequality challenge and the 'exemplary progress' made by <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> in the area is worthwhile for the global community to look at, <keyword id="6357073" type="DOMAIN" weightage="20" keywordseo="itc" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="itc" meta.entityname="ITC Ltd." meta.entityid="13554" meta.seoname="itc-ltd">ITC</keyword> Chairman and Managing Director <keyword id="1968926" type="General" weightage="50" keywordseo="sanjiv-puri" source="Orion">Sanjiv Puri</keyword> said on Monday. In his address at the Business-20 (B20) India inception meeting in Gandhinagar, <keyword id="4903" type="General" weightage="100" keywordseo="puri" source="Orion">Puri</keyword> also called for collective efforts in the G-20 and global community to come together to find solutions in a collaborative fashion for a sustainable future. "The fact that the world has to transition to net-zero, the fact that the world needs to move to a more sustainable and greener future is well acknowledged and understood. However, as we all know, progress has not been adequate," Puri said at the meeting organised by <keyword id="6358345" type="General" weightage="50" keywordseo="cii" source="Orion">CII</keyword>. There are challenges, there are critical, financial and social issues that need to be addressed, to accelerate progress, he added. "It is important as we traverse this complex journey that the process is inclusive, no country, no community, no enterprise should be excluded in the process. Otherwise, the whole challenge of social inequality will only get accentuated," Puri cautioned. In this context, he said,"I think it would be worthwhile to look at the manner in which India has made exemplary progress in this area. India is on its way to deliver on the NDCs (Nationally determined contributions) that India has committed. It's in fact the only country amongst the G-20 that is in a position to do so." Whilst India has made appreciable progress through purposeful policy interventions, he said,"Equally it has recognised the need for an inclusive process. The focus on <keyword id="6358354" type="General" weightage="50" keywordseo="msme" source="Orion">MSME</keyword>, the focus on rescaling, upskilling, I think the whole India stack of digital provides the vehicles for collaboration and inclusive growth." <keyword id="6357147" type="DOMAIN" weightage="20" keywordseo="tata-steel" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="tata steel" meta.entityname="Tata Steel Ltd." meta.entityid="12902" meta.seoname="tata-steel-ltd">Tata Steel</keyword> CEO and Managing Director TV Narendran agreed that there was a need to move towards a sustainable future by taking along all the stakeholders. "There are millions of people who are working in the coal or the fossil fuel ecosystem. How do you, as you transition into renewable energies, rescale those workers or how do you make sure that you deal with the socio-economic consequences of the changes that we are bringing about particularly in developing countries where the socio-economic consequences are going to be immense," he said. He asserted that there are multiple areas that "we need to work on and I think there is a need for us to now get into the details and get into those milestones that we need to achieve over the next few years, even as we chase the goals that you've set for the next few decades." Puri termed the journey ahead as "complex" with focus on many areas needed and said,"it requires all of us collectively, in G-20 and the global community to come together and find solutions in a collaborative fashion while delivering our own promises." He cited the example of collaboration in the <keyword id="3155010" type="General" weightage="50" keywordseo="international-solar-alliance" source="Orion">International Solar Alliance</keyword> and said it has brought the world together to harness the power of solar energy. "Similarly, there are many other areas we need to collaborate on and put our heads together and forge ahead," Puri said adding, enterprises as large economic organs of society must lead the way. He further said,"We (enterprises) are also users of a lot of societal resources. It's good that there is greater amount of interest, better trust amongst corporates, but I think the movement needs to be made much faster, the movement needs to be made much more inclusive, much more widespread." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/b20-has-important-role-to-play-can-be-value-adding-for-world-says-n-chandrasekaran/articleshow/97244919.cms">B20 has important role to play; can be value adding for world, says N Chandrasekaran</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/gautam-adani-plans-to-launch-at-least-five-ipos-between-2026-to-2028/slidelist/97248256.cms">Gautam Adani plans to launch at least five IPOs between 2026 to 2028</a>

You Searched For "Tata Trusts" and got 6 results

Ratan Tata's enduring legacy of compassion — caring for society and animals

Kapil Yadav

Singapore Airlines gets FDI nod from Indian govt for Vistara-Air India merger

PTI

Vistara CEO says 'worst is behind us', flight operations have stabilised

PTI

Here is how Airtel, TCS and Asian Paints continue to win consumer trust despite challenging times

BI India Partner

Srinath Narasimhan appointed as Tata Trusts' chief executive

PTI

Transition to net-zero should be inclusive to avoid accentuation of social inequality, says ITC CMD Puri

PTI

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You Searched For "Tata Trusts" and got 6 results

​Ratan Tata's enduring legacy of compassion — caring for society and animals

Kapil Yadav

Singapore Airlines gets FDI nod from Indian govt for Vistara-Air India merger

PTI

Vistara CEO says 'worst is behind us', flight operations have stabilised

PTI

Here is how Airtel, TCS and Asian Paints continue to win consumer trust despite challenging times

BI India Partner

Srinath Narasimhan appointed as Tata Trusts' chief executive

PTI

Transition to net-zero should be inclusive to avoid accentuation of social inequality, says ITC CMD Puri

PTI

Popular Keywords

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Ratan Tata's enduring legacy of compassion — caring for society and animals