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Singapore Airlines will make an additional investment of Rs 3,194.5 crore in Tata Group-owned Air India post-merger of Vistara in November. The merger, announced on November 29, 2022, and set to be completed on November 11, 2024, will result in Singapore Airlines having a 25.1% stake in the enlarged Air India. Full-service carrier Vistara, which started flying on January 9, 2015, is a joint venture between Tatas and Singapore Airlines, where the latter holds a 49% shareholding. Vistara's last flight will take off tomorrow i.e. November 11, 2024. Singapore Airlines (SIA) Group on Friday said its consideration for the merger comprises the 49% interest in Vistara and Rs 20,585 million (Rs 2,058.5 crore) in cash in exchange for a 25.1% equity interest in the enlarged Air India. Post-merger, SIA expects to recognize a non-cash accounting gain of around 1.1 billion Singapore dollars and also start equity accounting for its share of Air India's financial results. According to a release on Friday, the merger includes an agreement for SIA to contribute its share of any funding previously provided by Tata prior to the completion of the merger, together with relevant funding costs up to Rs 5,020 crore that would allow it to maintain a 25.1% stake in Air India. "SIA's additional capital injection is expected to be Rs 31,945 million (equivalent to SGD 498 million), based on Tata's funding to Air India to date. This will occur after the completion of the merger and within November 2024 through subscription to new Air India shares. "Future capital injections will be considered based on Air India's requirements and available funding options," according to the release issued while announcing the airline's financial performance for the six months ended September 2024. The merger of Vistara with Air India will mark a major consolidation in the fast-growing Indian aviation space. SIA said the merged entity will have a significant presence across all key Indian air travel segments, including domestic, international, full-service, and low-cost operations. "This will strengthen SIA's multi-hub strategy, allowing it to continue participating directly in India's large and fast-growing aviation market," it added. Recently, Air India and SIA agreed to significantly expand their codeshare agreement, adding 11 Indian cities and another 40 international destinations to their network.

Singapore Airlines to invest additional Rs 3,195 cr in Air India post-Vistara merger

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

<keyword id="20018887" type="General" weightage="100" keywordseo="Vistara" source="keywords" meta.keywordsubtype="org" meta.entityname="Vistara" meta.hostid="346" meta.entityid="Vistara">Vistara</keyword> will operate the last flight under its brand on November 11 and the full-service carrier's operations will be unified with <keyword id="19896871" type="General" weightage="20" keywordseo="Air-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Air India" meta.hostid="346" meta.entityid="Air India">Air India</keyword> from November 12. The government has given its nod for the foreign direct investment by <keyword id="20036942" type="General" weightage="20" keywordseo="Singapore-Airlines" source="keywords" meta.keywordsubtype="org" meta.entityname="Singapore Airlines" meta.hostid="346" meta.entityid="Singapore Airlines">Singapore Airlines</keyword> as part of the Air India-Vistara <keyword id="20035800" type="General" weightage="20" keywordseo="merger" source="keywords">merger</keyword>. Vistara is a joint venture between <keyword id="19924335" type="General" weightage="20" keywordseo="Tata-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Group" meta.hostid="346" meta.entityid="Tata Group">Tata Group</keyword> and Singapore Airlines. Air India is owned by Tata Group. "Starting 03 September 2024, customers will, progressively, no longer be able to make bookings with Vistara for travel on or after 12 November 2024," Vistara said in a release on Friday. Thereafter, Vistara aircraft will be operated by Air India and bookings for the routes operated by these planes will be redirected to Air India's website. "Vistara will continue to take bookings and operate flights as usual till 11 November 2024," the release said. The merger of Vistara with Air India was announced in November 2022 and post-completion of the deal, Singapore Airlines will have a 25.1 per cent stake in Air India. Vistara CEO Vinod Kannan said the merger is about offering passengers more choice with a larger fleet and a wider network while elevating the overall travel experience. "Cross-functional teams from Air India and Vistara have been working together for many months to make the transition of aircraft, flying crew, ground-based colleagues and, most importantly, our valued customers, into the new Air India as seamless as possible," Air India CEO and MD Campbell Wilson said. In a separate release, Air India welcomed the Union Cabinet's approval for the foreign direct investment by Singapore Airlines in the airline. "This is an important milestone that facilitates the merger process between Vistara and Air India, and the broader transformation of the Air India Group," it said.

Vistara to operate last flight under its brand on November 11

When the <keyword id="1700843" type="General" weightage="20" keywordseo="singapore-airlines-group" source="Orion">Singapore Airlines Group</keyword> (SIA) released its operating statistics for December 2022, it revealed that it carried almost 12 per cent more passengers compared with a month ago and four times more than a year ago. Its two carriers, SIA and Scoot, carried a total of 2.7 million passengers in December. For the entire year, it carried a total of 20.7 million passengers, a jump of 900 per cent from 2021. The airline cited the relaxation of travel restrictions in Hong Kong, Japan, and Taiwan for boosting the demand for air travel and supporting a recovery in those markets. Though impressive, the passenger numbers are still 76 per cent of December 2019's figure of 3.54 million passengers carried. SIA's passenger load factor (PLF) in December 2022 came in at 89.7 per cent during the month -- 3.8 percentage points more compared with a month ago and 43.2 per centage points more year-on-year. The airline noted that this is the highest monthly PLF in the SIA's history, full-service carrier, SIA, and low-cost airline, Scoot posted record monthly PLFs of 89.1 per cent and 91.6 per cent respectively. PLF for December 2019 was 87.6 per cent. However, it should be noted that PLF is a function of the number of planes an airline has in service. During this period where there's a global shortage of capacity, some <keyword id="44023" type="General" weightage="20" keywordseo="airlines" source="Orion">airlines</keyword> under utilise their planes either to keep airfares high or because they do not have enough resources to maximize the use of their fleet. According to fleet data from ch-aviation.com, at the moment, SIA has 36 inactive aircraft between its two main airline brands. Among the aircraft sitting on the ground are 15 Boeing 777ERs, two Airbus A350s, two A380s, and two 787-8s. With increasing competition in the coming year and with China's reopening from COVID-19 lockdowns, airlines in Northeast Asia are expected to put more capacity in the air which would result in supply putting pressure on prices. SIA is expected to do the same to contend for market share. Already in December, Scoot resumed flights to Zhengzhou, China in December 2022, while SIA restarted fortnightly passenger services from Singapore to Beijing on 30 December 2022. While the China market is still slowly recovering, SIA has been expanding its capacity in India, an important market, since the middle of last year. SIA has already resumed flights to the following South Asian cities at frequencies matching or exceeding pre-C levels: Bengaluru, Chennai, Delhi, Dubai, Hyderabad, Kathmandu, Kochi, Kolkata, and Mumbai. To underline the strategic importance of the Indian market to SIA, it made a commitment to continue to invest in the market late last year. On November 29, the airline announced that it will be converting its 49 per cent stake in Vistara into a 20 per cent stake in the new <keyword id="2573" type="General" weightage="20" keywordseo="air-india" source="Orion">Air India</keyword> Group, with the additional USD250 million used to acquire another 5 per cent. SIA has also agreed to inject up to another USD615 million after the merger is completed, (expected by March 2024), should the new airline group require additional funds from its shareholders to fund its restructuring and expansion. The actual amount will depend on factors including the progress of the enlarged Air India's business plan, and its access to other funding options. The airline said in a statement, "Through this transaction, SIA will reinforce its partnership with Tata and immediately acquire a strategic stake in an entity that is four to five times larger in scale compared to Vistara. The merger would bolster SIA's presence in India, strengthen its multi-hub strategy, and allow it to continue participating directly in a large and fast-growing aviation market." When Tata Sons agreed to buy Air India, the acquisition was completed a year ago on January 27, Tata was expected to consolidate its airline assets which meant it was likely to merge Vistara with Air India. SIA could have stepped away from its investment in the Indian market and sold its 49 per cent stake in Vistara. However, it decided to take a minority stake in a larger airline, and here are some of the possible reasons. First of all, the new Air India Group will be a much bigger player in the Indian aviation market. Its four airlines will have a 26 per cent market share based on domestic seat capacity and 21 per cent of international seat capacity in the current quarter, based on OAG data. India as a market and a source of travelers is of strategic importance to both SIA as well as Singapore overall. SIA will in time be able to increase its connectivity to Indian destinations as well as serve Indian passengers on international routes using Changi Airport as a transit point. This could open up attractive destinations in other parts of Southeast Asia, Australia, New Zealand, North Asia, and the west coast of America to Indian passengers. With the massive Terminal 5 in Changi opening in the middle of the next decade, any additional passenger churn will be vital to ensure the airport expansion fulfills its promise. India is among the top three aviation markets in the world and poised to double passenger traffic over the next 10 years supported by rising income levels and ongoing investments in its aviation infrastructure. It is projected to exceed 300 million airline passengers by 2027. However, India also remains underserved with low international seats per capita, signifying significant growth potential. Another factor that SIA would have considered is that the CEO of the new Air India group is a trusted 25-year veteran of the company before he joined the Indian airline in the middle of last year. Campbell Wilson, a New Zealander, was previously chief executive of Scoot and rotated through various roles at SIA in countries like Japan, Canada, and Hong Kong, and was senior vice president of sales and marketing for SIA. As quoted by Fortune, he said in a letter to employees on the one-year anniversary of the completion of Tata's takeover of Air India, "Taken together, the progress over the last 12 months has been nothing short of stunning, even if so much of what we have been working on has been behind the scenes, building platforms and capabilities so that our future ambitions can take flight. There is of course much more that needs to be done, and everyone internally and externally - is hungry for us to do it." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/hindenburg-ignores-indian-legal-processes-adani-group-on-the-firms-allegations/articleshow/97431153.cms">Hindenburg ignores Indian legal processes: Adani Group on the firm's allegations</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/finance-ministry-to-stick-to-privatisation-of-already-announced-cpses-next-fiscal/articleshow/97412473.cms">Finance Ministry to stick to privatisation of already announced CPSEs next fiscal</a>

Why Singapore Airlines is investing in Air India?

<ul class="summary-list"><li>After six years of flying, Cherry Tan left her dream job as a flight attendant.</li><li>She decided to open a hawker stall with her husband in Singapore.</li></ul>As a teenager, Cherry Tan knew she wanted to become a flight attendant.She mapped out a plan to fulfill that dream. At 19, she applied for a cabin crew position at <a target="_blank" class="" href="https://www.businessinsider.com/toured-singapores-flight-attendant-training-center-looked-physically-demanding-2023-3">Singapore Airlines</a>. When she was rejected failed, she temporarily switched gears to pursue a bachelor's degree in hospitality business at the Singapore Institute of Technology. But the dream of becoming a flight attendant never went away, and she continued to apply after graduation.After four years of rejections, at 23 and on her 10th attempt, she got the job.Tan spent the next six years flying around the world and exploring new countries every other day."Being a cabin crew member was the best time of my life," Tan, now 29, told me, adding that she enjoyed the work-life balance it afforded.<div type="image" title="A flight attendant stands in front of a Singapore Airlines plane." height="1600" width="1200" msid="113208984" hostid="261" sizebytes="108054"></div>But toward the end of her fifth year, Tan was hungry for a change in her life. Flying began to feel mundane, and she was uncertain about the job stability and career progression of being a flight attendant, she said.At the same time, her husband, Duncan Hsu, now 36, had been working as a chef in a hotel and wanted to start his own business. Tan saw this as an opportunity for them to open a hawker stall together in a <a target="_blank" class="" href="https://www.businessinsider.com/singapore-hawker-center-food-michelin-photos-tips-cost-2021-3">kopitiam</a> — an open-air coffee shop selling a variety of dishes at an affordable price in Singapore.So in May, the couple invested 30,000 Singapore dollars, or around $23,000, of their own money to open a stall in the west of Singapore.They named the stall Kiang Kiang Taiwan Teppanyaki and planned a menu inspired by a style of Japanese cooking that was introduced to Taiwan in the 1970s — "teppan" means "iron plate," and "yaki" means "grilled." Diners choose between steak, chicken, pork, or halibut, and then add either rice or noodles and additional sides.As the dishes were inspired by her husband's Taiwanese heritage, the meat is served with Taiwanese-style black pepper or mushroom sauce.<h2 id="73ed91fb-62c4-486c-965f-82f3d03854bb">Trading a comfortable job for longer hours and lower pay</h2>As a flight attendant at Singapore Airlines, Tan said she made around SG$6,000, or $4,600 a month, depending on the number of flights she embarked on. When she left her job to become a hawker, Tan estimated that she took a 50% pay cut.But Tan simply saw her pay cut as part of the process. "This is not our end goal," she said, adding that they plan to expand the business in the future. "So I just had to bite the bullet."And despite earning less, her bank account still grew because of her <a target="_blank" class="" href="https://www.businessinsider.com/singapore-hawker-stall-nasi-lemak-best-food-changi-photos-review-2022-4">long hours as a hawker</a>. As a flight attendant, Tan got around a day off after working for two or three days a week. She also spent more on food and shopping while traveling to different countries, she said.Now, Tan works 12 hours a day, six days a week. "I don't have time to spend my money elsewhere," she said.Tan said it took time to get used to working in the 147-square-foot stall space, which gets hot and stuffy when Hsu grills meat.<div type="image" title="Two people working in a hawker stall." height="3264" width="4896" msid="113208977" hostid="261" sizebytes="309000"></div>Her parents were against the career switch. "Even until today, they asked me why I had to give up a comfortable job," she said.<h2 id="c31013cd-cce7-457a-987b-1706cffbf53a">No easy business to break into</h2>The hawker business is challenging to succeed in. Although startup costs may be lower than those of other food and business enterprises, it is physically demanding and can <a target="_blank" class="" href="https://www.businessinsider.com/hawker-chan-michelin-star-bib-gourmand-hawker-restaurant-singapore-2023-7">yield narrow profits</a>."There's no guarantee you will succeed. People have failed. That's the reality. If you don't do your homework well, you don't study your menu, you will fall very fast," KF Seetoh, a food critic and the founder of Urban Hawker in New York City <a target="_blank" class="" href="https://www.businessinsider.com/michelin-star-singapore-restaurant-hawker-stall-chef-nasi-lemak-food-2024-3">previously told BI</a>. Urban Hawker is the first street food center in the US that features Singaporean hawker cuisine.Despite the risks involved, Tan was confident in her decision. "I was not really concerned about whether the business would succeed because I have a lot of faith in my husband," Tan said. She met Hsu in 2014 on an internship in Taiwan. The pair got married in 2019.<div type="image" title="A couple poses in front of their stall" height="2754" width="3118" msid="113208978" hostid="261" sizebytes="351014"></div>When they first started out, business was slow. They sold around 50 sets — which range between SG$ 8.50 to SG$ 13.50 a piece — each day. They had monthly expenditures to consider, too: Tan estimates that the cost of operating the stall is around SG$21,000 monthly, including rent, which costs around SG$5,500.But business started to look up when Tan's videos about her hawker life gained traction on TikTok. Local media also began to cover the business. The fact that the stall owner had worked at Singapore Airlines added a layer of curiosity and drew interest, she said.On a visit to their food stall on a Friday afternoon in August, I spotted a few customers finishing their final bites of the hot plate dish. It was almost the end of the lunch hour, and the side option of bean sprouts was sold out.While Hsu cooks the final delivery orders in the kitchen, Tan never pauses for a break. She helps to pack orders, pours sauce into takeaway packets, and chats cordially with customers.<div type="image" title="Chicken chop teppenyaki" height="3189" width="4756" msid="113208983" hostid="261" sizebytes="411400"></div>Tan said the skills she gained as a Singapore Girl — a nickname given to the airline's female flight attendants — have proven helpful in unexpected ways. "I'm used to talking to customers. So, as a hawker, I can make customers feel comfortable," she said. "I think it's nice. I mean, you don't really get that in hawker stalls because people usually just order their food and go," she said.<h2 id="f1fa0e0d-b920-4ba4-8ed1-a0dac6943221">The perks of being a hawker</h2>When Tan was a flight attendant, she simply had to report for work, follow instructions, and get paid a regular salary at the end of each month.But now, Tan gets to be her own boss. While Hsu oversees cooking, Tan handles the cashier, administrative work, accounting, and marketing.Although Tan doesn't see herself returning to the life of flying, one thing she does miss is the food."I'm not talking about the airplane food," she said. "I mean the food overseas. You know, biryani in India, The Cheesecake Factory in the US," she said with a laugh.<div type="image" title="A woman working at a hawker stall" height="3243" width="4864" msid="113208979" hostid="261" sizebytes="537254"></div>She said she feels pride in being part of a bigger movement to prevent <a target="_blank" class="" href="https://www.businessinsider.com/how-the-michelin-list-ruined-hawker-culture-food-for-singapore-2023-6">Singapore's hawker culture</a> from dying.In 2022, <a target="_blank" class="" href="https://www.businessinsider.com/best-chicken-rice-singapore-hawker-maxwell-tian-tian-review-michelin-2023-12">hawker culture</a> was inscribed on the UNESCO Representative List of the Intangible Cultural Heritage of Humanity. According to the National Environment Agency's website, the median age of hawkers is 60 — despite the retirement age in Singapore being 63.As Tan said, "You'll need a new generation to help the hawker culture."As the buzz from lunch hour began to wind down, Tan started to prepare ingredients for the dinner crowd."The hawker lifestyle is challenging, but I think if more youngsters are willing to go through this process, it's rewarding," she said.

After 9 rejections, she landed her dream job as a Singapore Airlines flight attendant. Six years later, she quit to open a hawker stall.

<ul class="summary-list"><li>I'm exited Singapore Airlines is adding doors to business class after flying the current seat.</li><li>Demand for door-equipped cabins is widespread, with many global airlines hopping on the trend.</li></ul>In early 2023, I <a target="_blank" class="" href="https://www.businessinsider.com/worlds-longest-flight-singapore-airlines-business-review-2023-1">flew Singapore Airlines on the world's longest flight</a> to experience what is considered a top-tier business class.It was one of my first long-haul trips at the front of the plane, so I was easily impressed by the lie-flat bed, the amenity kit, business-class lounge access, and other <a target="_blank" class="" href="https://www.businessinsider.com/business-class-airlines-compared-best-worst-2023-9">posh perks of premium flying</a>.One thing it lacked, however, was a sliding door. Instead, the seat had large privacy wings intended to cocoon travelers. At the time, I was less bothered by the lack of privacy and was just happy with the bed and gourmet food on the 18-hour journey.<div type="image" title="The two seats in the middle section can be separated with a divider." height="1500" width="2000" msid="115093804" hostid="261" sizebytes="139642"></div>Since then, I've flown in door-equipped <a target="_blank" class="" href="https://www.businessinsider.com/flying-ana-the-room-business-class-new-york-japan-review-2023-4">business class on Japan's All Nippon Airways</a> and British Airways. I've joined the club of people who prefer the coziness of a fully enclosed pod, which proved to be a night-and-day difference in privacy.I could sleep and work without feeling like wandering eyes were looking over my shoulder. I was also less disturbed by the noise from the galleys and bathrooms, and I didn't have a neighbor's light annoyingly glaring into my space when the cabin was dark.Although it has taken some eight years to announce a significant upgrade to its high-dollar seat, five-star <a target="_blank" class="" href="https://www.businessinsider.com/singapore-airlines-new-first-class-business-upgrades-privacy-door-trend-2024-11">Singapore is finally jumping on the door trend</a>.The carrier announced plans in November to <a target="_blank" class="" href="https://www.businessinsider.com/singapore-airlines-new-first-class-business-upgrades-privacy-door-trend-2024-11">retrofit 41 Airbus A350 planes</a> with a new door-equipped business class. It will also be on Singapore's <a target="_blank" class="" href="https://www.businessinsider.com/boeing-777x-why-so-important-delays-future-airlines-2024-7">future Boeing 777X aircraft</a>. The first retrofitted plane is expected to launch in the second quarter of 2026.CEO Goh Choon Phong said in a press release that the change was a result of its customers' "evolving preferences and expectations."It is too early to say what exactly Singapore has on deck for the new <a target="_blank" class="" href="https://www.businessinsider.com/flew-on-singapores-airbus-a380-premium-economy-one-flaw-review-2023-1">premium cabin</a>, but the single rendering mirrors the hotel-like suites found on All Nippon Airways and British Airways offer.<div type="image" title="Singapore new business class rending with sliding door." height="1080" width="1350" msid="115093810" hostid="261" sizebytes="59338"></div>Considering the door was the only feature included in the rendering, Singapore clearly wanted to emphasize its addition.I hope Singapore will also retain its other favored business-class amenities, like the food, extra-wide seats, and plentiful storage, that make it <a target="_blank" class="" href="https://www.businessinsider.com/best-airlines-in-the-world-skytrax-survey-2024-6">one of the world's best airlines.</a>Regardless, the new and improved business class cabin will be a welcomed change for me and likely for other travelers who may have once pondered a <a target="_blank" class="" href="https://www.businessinsider.com/flying-business-class-qatar-airways-review-2024-9">competing airline for long-haul travel</a> simply for the more private experience.Plus, the country is known for luxury, so having a business class to match will lure in more high-dollar elites and help Singapore better keep up in the highly-competitive market — especially after it lost out to five-star Qatar for Skytrax's world's best business class in 2024.Air India launched its <a target="_blank" class="" href="https://www.businessinsider.com/air-india-business-class-a350-compared-to-777-legacy-2024-2">new pod-like business class</a> in January as it completely overhauls its brand.<div type="image" title="Air India's business class cabin suites." height="2906" width="3875" msid="115093812" hostid="261" sizebytes="791164"></div>I toured the cabin and thought it could easily boost the company's premium competitive edge — and a much-needed change from its old and <a target="_blank" class="" href="https://www.businessinsider.com/air-india-business-class-boeing-777-review-photos-2024-1">awkward business class</a> still flying many routes.<a target="_blank" class="" href="https://www.businessinsider.com/see-turkish-airlines-new-luxurious-business-class-photos-review-2024-8">Turkish Airlines</a>, American Airlines, and Korean Air are among the handful of other companies also leaning into the popular trend.

I've flown on Singapore's world's longest flight in business class. It was nice, but the new seats will be a game changer.

<ul><li>For the financial year ending March 2023, the <keyword id="6359180" type="General" weightage="80" keywordseo="sia" source="Orion">SIA</keyword> Group posted a record net profit of SGD 2,157 million (USD 1,598 million) for the year.</li><li>SIA's revenue rose 133.4 per cent or by SGD 10,160 million (USD 7,526 million) year-on-year to a record SGD 17,775 million (USD 13,167 million). </li></ul>Singapore, May 22 (ANI): Following consecutive quarters of standout financial results, many expected Singapore Airlines (SIA) to turn in a dazzling set of numbers last week when it announced its full-year results. Singapore's national carrier did not disappoint as it reported the highest annual profit in its 76-year history. For the financial year ending March 2023, the SIA Group posted a record net profit of SGD 2,157 million (USD 1,598 million) for the year, versus an SGD 962 million (USD713 million) net loss in the previous year, an earnings gain of SGD 3,119 million (USD 2,310 million). SIA's revenue rose 133.4 per cent or by SGD 10,160 million (USD 7,526 million) year-on-year to a record SGD 17,775 million (USD 13,167 million). Although capacity was ramped up by 94 per cent, it was outpaced by traffic which rose 449.9 per cent. This led passenger flown revenue to expand by SGD 10,560 million (or 376.3 per cent) to SGD 13,366 million. Revenue per available seat-kilometre (RASK) was 10 Singapore cents, the highest yearly RASK in the carrier's history. During the financial year under review, the two airlines in the SIA group, full-service Singapore Airlines and low-cost Scoot, together served a total of 26.5 million passengers, a six-fold increase from a year ago. With capacity at only 79 per cent of pre-COVID levels as of March 2023, there is still room for the airline to do better. It said that its capacity is projected to reach an average of around 83 per cent of pre-COVID levels in the first half of the current financial year. The outstanding results is mostly because of the way SIA responded to the crisis wrought by the COVID-19 pandemic on the airline industry. As borders closed, and airlines stopped flying, SIA with the support of shareholders and its lenders managed to raise over USD16 billion of cash to shore up its balance sheet. This enabled it to retain more than 80 per cent of its staff as well as keep most of its aircraft operational. Many regional competitors had to furlough or let staff go and sell aircraft and as a result, had a slower start once borders reopened again. During COVID, SIA redeployed cabin crew to other sectors including as "care ambassadors" in healthcare facilities and as "transport ambassadors" to help manage safe practices on public transport. The carrier also took the opportunity to upgrade some of its cabins and also merged regional carrier <keyword id="676010" type="General" weightage="50" keywordseo="silkair" source="Orion">Silkair</keyword> with its main full-carrier Singapore Airlines to save costs. Digital services were also upgraded and a lifestyle rewards app Kris+ was launched. As borders reported, SIA rapidly deployed services to meet the pent-up travel demand charging above-average fares as regional competitors played catch-up. At the moment, SIA is operating at over 80 per cent of its pre-COVID levels whereas the average passenger capacity of international scheduled services of Asia-Pacific airlines is at around 58 per cent. To prepare for the future, SIA is looking into several strategic initiatives including the continued expansion of its network through deeper collaboration with like-minded airlines. One of these initiatives is the proposed merger of <keyword id="2573" type="General" weightage="100" keywordseo="air-india" source="Orion">Air India</keyword> and Vistara to strengthen SIA's presence in the fast-growing Indian aviation market. Through its ownership of Vistara and a further injection of USD 250 million in November last year, Singapore Airlines will be a 25.1 per cent owner of Air <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> once the merger is approved by the Indian authorities. When Tata Sons appointed Singapore Airlines (SIA) veteran <keyword id="5863894" type="General" weightage="50" keywordseo="campbell-wilson" source="Orion">Campbell Wilson</keyword> as chief executive officer in the middle of last year, it was probably with a view to trying to mirror the success of SIA at the newly acquired Air India. Wilson, a New Zealander, spent 25 years at SIA rotating through various roles including chief executive of Scoot, senior vice president of sales and marketing and worked for the airline in countries like Japan, Canada, and Hong Kong. If investments committed to the new Air India are an indication, Tata is on the right track to turning Air India around to become a more modern airline, with a better on-time record, better in-flight service, better cabin environment and an all-around better customer experience. The new owners have committed USD 70 billion to aircraft, USD 200 million to IT, and USD 400 million to refit the existing fleet. In February this year, it made the largest single order for new aircraft worldwide by buying 470 planes from both Boeing and Airbus. To support the growth, the airline has recruited thousands of staff, including 10 times the number of cabin crew and 10 times the number of pilots that would have been typically recruited each year. Following years of under-investment, and lack of recruitment and training, it has already made good progress in less than a year according to Wilson. Speaking to Australian aviation blogger <keyword id="8281779" type="General" weightage="50" keywordseo="sam-chui" source="Orion">Sam Chui</keyword>, he said, "We've changed all the menus. We've replaced seats, curtains, carpets, and seat cushions. We've repaired a lot of the inflight entertainment systems, particularly in first and business class that weren't previously working. We are making good progress in economy class despite supply chain constraints." Recently, the carrier also attained the number one ranking for domestic punctuality for the first time in eight years and has consistently been amongst the top two or three in India. "The biggest challenge for us at the moment is simply the scale and pace of growth. It is a sizable airline. We carry over 100,000 people a day already," he added. Although the impact of the changes will only be felt over time, Air India's CEO is confident that the changes he has implemented will bear fruit and lead the airline back to being a premium global carrier eventually. CEO Wilson said, "Air India was in the 1960s, one of the best airlines in the world. It's got a long 90-year history. The past few years have been a bit challenging with under-investment. But now under the Tata group, which took ownership in January of 2022, there is a very significant effort to get Air India back to the heights it once was." (ANI) SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/is-whatsapp-secretly-listening-to-your-private-conversations-heres-how-to-check/articleshow/100155980.cms">Is WhatsApp secretly listening to your private conversations? Here’s how to check</a> <a href="https://www.businessinsider.in/tech/news/google-pixel-6a-vs-pixel-7a-smartphone-comparison-with-price-and-features/articleshow/100177889.cms">Google Pixel 6a vs Pixel 7a: Is Google's latest mid-ranger worth the extra ₹12,000?</a>

Can Air India emulate Singapore Airlines' record profits?

<ul class="summary-list"><li>Five-star carrier Singapore Airlines is investing $830 million to retrofit 41 Airbus A350 planes.</li><li>This includes new first and business-class, which will also be on Singapore's future Boeing 777X.</li></ul>Singapore Airlines plans to spend more than $800 million to retrofit its long-haul planes as customers demand more luxury at 35,000 feet.The carrier, which is regularly ranked <a target="_blank" class="" href="https://www.businessinsider.com/best-airlines-in-the-world-skytrax-survey-2024-6#2-singapore-airlines-19">among the world's best airlines</a>, on Monday unveiled plans to retrofit 41 Airbus A350 aircraft. The first of 34 A350-900s and the first of seven A350-900ULRs will launch in the second quarter of 2026 and the first quarter of 2027, respectively.The overhaul will include new business and first-class seats designed "from the ground up," and <a target="_blank" class="" href="https://www.businessinsider.com/flew-on-singapores-airbus-a380-premium-economy-one-flaw-review-2023-1">"refreshed" economy and premium economy cabins,</a> the company said.The new seats will also be featured on Singapore's highly anticipated <a target="_blank" class="" href="https://www.businessinsider.com/boeing-777x-why-so-important-delays-future-airlines-2024-7">Boeing 777X, which won't enter service until at least 2026</a> amid ongoing production delays.Singapore gave few specific details about the upgraded cabins, but one thing is clear: the airline is finally adding a <a target="_blank" class="" href="https://www.businessinsider.com/british-airways-club-suite-business-class-london-nyc-review-photos-2024-3">sliding door to business class</a>.The privacy door, a <a target="_blank" rel="noopener noreferrer" class="c-link" href="https://www.businessinsider.com/airlines-qatar-turkish-korean-continue-to-upgrade-business-class-2024-8">flyer favorite</a>, is an increasingly popular perk<a target="_blank" rel="noopener noreferrer" class="c-link" href="https://www.businessinsider.com/flew-first-business-and-premium-economy-on-singapore-airlines-mrbeast-2023-3"> in business class</a>.The feature is absent from Singapore's current business seat, but the bougie new feature could help the carrier level up its business cabin in the ultra-competitive market — especially after it came <a target="_blank" rel="noopener noreferrer" class="c-link" href="https://www.businessinsider.com/best-airlines-in-the-world-business-class-seats-skytrax-survey-2024-6">second to Qatar for the world's best business class</a> in 2024.<div type="image" title="One of the seats in the row behind me." height="1197" width="1596" msid="114957636" hostid="261" sizebytes="137560"></div>Airlines worldwide are jumping on the high-demand trend. In recent years, Air India, <a target="_blank" class="" href="https://www.businessinsider.com/see-american-airlines-new-business-class-flagship-suite-for-the-a321xlr-787-2022-9">American Airlines</a>, British Airways, Korean Air, and Turkish Airlines, for example, have all announced new door-equipped business-class cabins to keep up with the competition."Over the past six years, we have extensively engaged customers and stakeholders in the design of our next-generation long-haul cabin products, anticipating their evolving preferences and expectations down to the finest details," Singapore CEO Goh Choon Phong said in a press release.<h2 id="96f450b6-cfdf-4c67-a9bc-4118d764be21">Singapore builds upon its award-winning first-class</h2>The addition of first-class on Singapore's A350-900ULR planes is a significant change. The jet's existing layout only offers business and premium economy and is used for ultra-long-haul flying, including on the <a target="_blank" class="" href="https://www.businessinsider.com/worlds-longest-flight-singapore-airlines-business-review-2023-1">world's longest route between New York City and Singapore.</a>According to the airline's vague rendering, the new first-class appears to stretch across at least three windows and maintain a spacious pod-like design with doors.<div type="image" title="Singapore rendering of its new first-class." height="1080" width="1920" msid="114957635" hostid="261" sizebytes="26834"></div>Singapore already boasts first-class on its Boeing 777-300ERs and Airbus A380 double-deckers. The latter hosts the <a target="_blank" class="" href="https://www.businessinsider.com/singapore-airlines-first-class-suite-double-bed-is-worlds-best-2024-6">world's best first-class, known as Suites</a>. The posh hotel-like cabin includes a separate bed and chair, and two pods can combine into a two-person suite with a double bed.The Suites are not cheap, costing between $16,000 and $24,000 round trip, according to December ticket prices between London and Singapore. The <a target="_blank" class="" href="https://www.businessinsider.com/see-singapores-a380-first-class-suite-bed-armchair-huge-lavatory-2022-5">A380s do not fly to the US</a>, but Singapore's retrofitted A350 jets mean first-class will likely be available in the US once again.The new cabin represents the airline's continued focus on the front of the plane. Singapore's A350-900ULR will add three business class seats but lose 36 premium economy seats to make room for first class. It will not introduce a <a target="_blank" class="" href="https://www.businessinsider.com/flying-singapore-in-economy-12-hours-would-easily-book-again-2023-1">regular coach cabin.</a>Many other airlines, including Air India, Qatar Airways, and Hong Kong's Cathay Pacific, are also planning new international first-class cabins, signaling the cabin isn't dead yet <a target="_blank" class="" href="https://www.businessinsider.com/american-airlines-ditching-first-class-seats-passengers-arent-buying-it-2022-10">despite US airlines ditching the high-dollar seat.</a>

One of the world's best airlines is adding a flyer-favorite feature to its business class as premium competition heats up

<ul class="summary-list"><li>US airlines have ditched first class for improved business cabins to optimize space and revenue.</li><li>Some global carriers are adopting a different strategy as demand for more onboard luxury spikes.</li></ul>Delta Air Lines and United Airlines years ago eliminated international first class on their planes, and <a target="_blank" class="" href="https://www.businessinsider.com/american-airlines-ditching-first-class-seats-passengers-arent-buying-it-2022-10">American Airlines is following suit</a>.They deemed business class more lucrative for long-haul flights. It can fit more seats and is more marketable to more people than a costly first-class ticket.But many global carriers in Europe, Asia, and the Middle East are taking the opposite approach, chasing dollar signs with new first-class cabins amid a post-pandemic industry shift that's seen <a target="_blank" class="" href="https://www.businessinsider.com/best-airline-first-class-suites-in-world-2023-8">increasing demand for luxury at the front of the plane</a>.This includes multimillion-dollar revamp plans in a bid to lure more customers, keep up with the competition, and boost revenue and reputations. While these carriers still have business class, true first class remains a money-maker despite taking up the least amount of cabin real estate.Qatar Airways CEO Badr Mohammed Al Meer told <a target="_blank" class="" href="https://www.cnbc.com/2024/03/15/qatar-airways-to-launch-first-class-as-airline-courts-airbus-and-boeing-for-new-planes.html?utm_source=syndication">CNBC</a> in March that the airline's first class is here to stay. This was a U-turn from his predecessor, who said in 2023 that first class wasn't necessary with that carrier's famous <a target="_blank" class="" href="https://www.businessinsider.com/qatar-airways-business-class-qsuite-next-gen-photos-2024-7">Q-Suite business class.</a>Five-star Singapore Airlines also plans to <a target="_blank" class="" href="https://www.businessinsider.com/singapore-airlines-new-first-class-business-upgrades-privacy-door-trend-2024-11">launch a new first class</a> as part of an over $800 million cabin overhaul project. Air France, Swiss International Air Lines, and Lufthansa are also in the mix, among others.<div type="image" title="Swiss' new first-class." height="744" width="992" msid="115064431" hostid="261" sizebytes="49628"></div>A study from Mighty Travels Premium, published in <a target="_blank" class="" href="https://www.mightytravels.com/2024/10/who-really-flies-first-class-data-shows-67-are-corporate-travelers-not-wealthy-individuals/#Who-Really-Flies-First-ClassData-Shows-67-are-Corporate-Travelers-Not-Wealthy-Individuals-International-Routes-Report-Higher-Individual-First-Class-Bookings-Than-Domestic">October,</a> showed that the first-class resurgence is largely corporate travelers from monied Fortune 500 companies.The study, which analyzed airline revenue data, saw a jump in international bookings from affluent leisure individuals willing to pay a premium for the posh perks.First-class transatlantic fares averaged about $2,900 one-way between January and August, not including taxes and fees, according to data from the aviation analytics company Cirium. But that can be a lot higher on more luxury-focused airlines.Tiffany Funk, an analyst from the travel website <a target="_blank" class="" href="https://www.point.me/">Point.me</a>, told Business Insider that a drive behind Singapore's new first-class is partly from ultra-wealthy people who want to fly in style but can't reach certain <a target="_blank" class="" href="https://www.businessinsider.com/flying-on-a-50-million-bombardier-global-5000-private-jet-2022-5">destinations with a private jet.</a>"Singapore adding first-class speaks to its demographics," she said. "One of the Google co-founders who goes back and forth between the US and Singapore is someone who would book it, those are the people willing to pay $15,000-$20,000 for that really nice luxury experience."<h2 id="abe0097f-b9fa-429e-b49f-0356ea72b21f">Some airlines are adding first-class to boost their prestige</h2>Funk said airlines like British Airways, Singapore, Emirates, and Air France don't always fill first-class but have them for the "prestige."<div type="image" title="flight attendant sitting in air france first class." height="3124" width="4754" msid="115064429" hostid="261" sizebytes="719060"></div>Airlines, especially those with state investment, are willing to take the trade-off for the sake of boosting their reputation or providing the needed luxuries for their local elites."Air France is committed to having this super premium first-class product because it's Air France," Funk said. "It doesn't necessarily make economic sense, and it doesn't need to with only four seats to fill on the plane."She pointed to other examples like Emirates, which can get more customers across all cabins simply because it is associated with <a target="_blank" class="" href="https://www.businessinsider.com/emirates-airlines-first-class-flight-review-lie-flat-bed-shower-2023-4">having showers in first class</a> — even if people aren't in a seat with access to that shower.Then there is British Airways, which Funk said carries the prime minister and the royal family and needs to partly maintain first-class for that clout."You're not going to have William and Kate fly business class alongside 85 other people," she said.<div type="image" title="Qantas first-class cabin for Project Sunrise" height="4242" width="6000" msid="115064430" hostid="261" sizebytes="2398362"></div><h2 id="e19242e8-14ab-4c62-bb67-afee61170409">9 airlines are planning a new first-class cabin</h2>With at least nine new international first-class cabins coming to market over the next couple of years, <a target="_blank" class="" href="https://www.businessinsider.com/british-airways-first-class-suite-review-photos-2023-7">deep-pocketed customers</a> have a lot to look forward to — especially as some of these luxury seats will touch the US.Here are nine global airlines introducing a new first-class cabin:<ul><li>Air India: A new first-class will <a target="_blank" href="https://www.businessinsider.com/see-new-luxury-cabins-air-india-retrofit-onto-boeing-777-2023-8">be retrofitted onto existing Boeing 777-300ERs</a> starting in 2025 as part of Air India's $400 million rebrand.</li><li>Air France: The airline's new "La Premiere" first-class is <a target="_blank" class="" href="https://businesstravelerusa.com/news/air-france-new-la-premiere/">expected</a> to be unveiled by the end of 2024, though details remain limited.</li><li>British Airways: The UK flag carrier is <a target="_blank" class="" href="https://thepointsguy.com/news/british-airways-improvements-new-first-class-lounges/">debuting</a> a new first class on its Airbus A380s and future Boeing 777Xs. No official timeline has been announced.</li><li>Cathay Pacific: The Hong Kong-based airline is <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/cathay-pacific-unveils-aria-suite-a-new-way-to-experience-air-travel-1033863345">introducing</a> a new first class on its future 777X planes, but the delivery of those planes and its new cabin is still uncertain.</li><li>Swiss International Air Lines: From 2025, the <a target="_blank" class="" href="https://www.businessinsider.com/swiss-first-class-seats-too-heavy-for-a330-planes-2024-9#:~:text=Installation%20of%20the%20new%20cabins,plate%2C%22%20a%20spokesperson%20said.">carrier will offer a new pod-like first class</a> on existing A330s, Boeing 777s, and future A350s.</li><li>Lufthansa: Germany's flag carrier is <a target="_blank" class="" href="https://www.businessinsider.com/lufthansa-replacing-dated-business-class-new-allegris-cabin-first-class-2024-4">launching its new A350 Allegris first-class</a> on Saturday. The suite is similar to Swiss.</li><li>Qantas: From 2026, Australia's national airline will debut a new <a target="_blank" class="" href="https://www.businessinsider.com/qantas-first-business-class-worlds-longest-flights-project-sunrise-pictures-2023-2">first class on A350s as part of "Project Sunrise,"</a> which will operate the world's new longest flights between Australia, New York, and London.</li><li>Qatar: The Doha-based airline has released few details about its new first class, but the cabin will be on <a target="_blank" class="" href="https://www.businessinsider.com/qatar-new-qsuite-adding-first-class-to-boeing-777x-2024-3">future 777X planes</a>.</li><li>Singapore: Singapore is the latest airline to reveal a new first class, which will debut on seven <a target="_blank" class="" href="https://www.businessinsider.com/worlds-longest-flight-singapore-airlines-business-review-2023-1">ultra-long-haul A350-900ULRs</a> in the first quarter of 2027.</li></ul>

International airlines are all-in on fancy first-class seats, even as US carriers focus only on business for long-haul flights

<keyword id="6356662" type="General" weightage="100" keywordseo="singapore" source="Orion">Singapore</keyword> Airlines' deal with Tata Sons (Tata) will inject a further <keyword id="366395" type="General" weightage="80" keywordseo="sgd" source="Orion">SGD</keyword> 360 million (USD 267 million) into Air <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>. It will give <keyword id="6359180" type="General" weightage="80" keywordseo="sia" source="Orion">SIA</keyword> a 25.1 per cent stake in the enlarged Air India group following its takeover by Tata and merger with <keyword id="2468721" type="General" weightage="50" keywordseo="vistara-airlines" source="Orion">Vistara Airlines</keyword>. The November 2022 deal between Singapore Airlines and Tata Sons to further inject USD 267 million into Air India is one of the key strategic initiatives for future growth mentioned in the quarterly financial report. This agreement is still subject to regulatory approval. SIA in the statement said, "The merged entity will be four to five times larger in scale compared to <keyword id="2467342" type="General" weightage="50" keywordseo="vistara" source="Orion">Vistara</keyword>, with a strong presence in all key airline segments in India. The proposed merger will bolster SIA's presence in India, strengthen its multi-hub strategy, and allow it to continue participating directly in this large and fast-growing aviation market." The airline further said, "Deeper collaboration with like-minded airlines is an integral part of the SIA Group's partnerships strategy. This enables SIA and its partners to drive more traffic to their hubs, offer more options to customers, and increase the Group's global footprint." Last week, Singapore Airlines (SIA) announced that net profit for Q3 which ended in December, came in at Singapore dollar (SGD) 628 million (USD 465 million) and financial year-to-date profits touched SGD 1,555 million (USD 1,152 million). They are the highest the airline has ever earned in a quarter as well as for the first nine months of a financial year. The airlines said in a statement that this is due to "the robust demand for air travel continuing into the third quarter of FY2022/23, building on the momentum that began after Singapore relaxed its border restrictions in April 2022." SIA financial year starts in April. This comes on the back of Singapore's announcement that from February 13, it will relax all remaining Covid restrictions for travellers as well as locals. Travellers who are not fully vaccinated against Covid will no longer need to show proof of a negative pre-departure test before entering Singapore and do not need to buy travel insurance to cover Covid treatment if they fall ill on the island. Those who are vaccinated no longer need to show proof on arrival. The use of a face mask on public transport which was the last remaining local Covid-era protocol is no longer mandatory as of the same date. Singapore was one of the first Asian countries to reopen after the Covid pandemic and that has aided its tourism industry along with its national carrier. Besides government grants to affected industries during Covid, the airline was the beneficiary of its shareholders and financial institutions' confidence in its business as it managed to raise SGD 22.4 billion (USD 16.6 billion) during Covid including SGD 15 billion from shareholders (largest of which is state investment firm Temasek Holdings) through sales of shares and convertible bonds. As of December 2022, it still holds a cash balance of SGD 15.4 billion. This allowed it to keep most of its staff and fleet and facilitated restoration of routes quickly once travel resumed. This was unlike other regional airlines which had to let staff go and sell aircraft to keep afloat.SIA reported that its group passenger capacity reached 80 per cent of pre-Covid levels in December 2022, higher than the average of 51 per cent for the Asia-Pacific region. Its two main airline brands carried 7.4 million passengers in the third quarter, up 17 per cent from the second quarter. When added to the first two quarters, the SIA Group served 18.8 million passengers for the first nine months of the financial year. This is a nine-fold increase from a year earlier (2021) when most of the world's borders were still closed. Passenger load factors for the Group improved by 0.8 percentage points to 87.4 per cent, the highest for any quarter, on the back of record load factors for both premium airline, SIA (87.3 per cent) and low-cost carrier, Scoot (87.8 per cent). SIA reported that its cargo performance moderated compared to the previous quarter due to softening demand, as well as an increase in belly hold capacity as more passenger aircraft returned to service globally. While yields were weaker quarter-on-quarter, they remained elevated -- almost double -- compared to pre-Covid levels. Overall, SIA's revenue for the three months to December rose SGD 358 million (USD 265 million), an 8 per cent quarter-on-quarter increase to SGD 4,846 million (USD 3,589 million), a record. Passenger-flown revenue increased by 14 per cent or SGD 463 million to SGD 3,767 million as traffic grew 12.2 per cent for the quarter, outpacing the 11.1 per cent expansion in capacity. Revenue per available seat-kilometre (RASK) was 10.6 Singapore cents, the highest quarterly RASK in the Group's history. Cargo flown revenue fell 14.1 per cent or SGD 141 million (USD 104 million) to SGD 862 million (USD638 million), with the lower yields which were down 14.6 per cent partially mitigated by a slight uptick in loads, up 0.6 per cent. Expenditure increased 7.4 per cent or SGD281 million (USD208 million) quarter-on-quarter to SGD 4,091 million (USD 3,030 million). This comprised an SGD 371 million (15.5 per cent) rise in non-fuel expenditure that was partly offset by an SGD 90 million decrease (-6.3 per cent) in net fuel cost. The increase in non-fuel expenditure was higher than the increase in capacity, mainly driven by higher foreign exchange losses of SGD 194 million (USD 144 million) recorded at the end of the current quarter with the US dollar weakening 6.1 per cent against the Singapore dollar. Net fuel cost fell to SGD 1,333 million (USD 987 million) mainly due to a 13 per cent drop in fuel prices. This was partly offset by higher volumes uplifted (+USD 103 million) and lower fuel hedging gain (+USD 19 million). 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Singapore Airlines to get 25.1% stake in enlarged Air India group

<ul><li><keyword id="2467342" type="General" weightage="50" keywordseo="vistara" source="Orion">Vistara</keyword> to merge with <keyword id="8555" type="General" weightage="80" keywordseo="tata" source="Orion">Tata</keyword> group-owned <keyword id="2573" type="General" weightage="100" keywordseo="air-india" source="Orion">Air India</keyword>.</li><li>Tata group owns a 51 per cent stake in Vistara while <keyword id="6368386" type="General" weightage="80" keywordseo="singapore-airlines" source="Orion">Singapore Airlines</keyword> owns the remaining 49 per cent.</li><li>Singapore Airlines will also invest ₹2,058.5 crores in Air India giving it a 25.1 per cent stake in the Air India group.</li></ul>Singapore Airlines on Tuesday said Vistara will be merged with Tata group-owned Air India. Tata group owns a 51 per cent stake in Vistara, and the remaining 49 per cent shareholding is with Singapore Airlines (<keyword id="6359180" type="General" weightage="80" keywordseo="sia" source="Orion">SIA</keyword>). As part of the transaction, SIA will also invest ₹2,058.5 crores in Air India. "This would give SIA a 25.1 per cent stake in an enlarged Air India group with a significant presence in all key market segments. SIA and Tata aim to complete the merger by March 2024, subject to regulatory approvals," SIA said in a release. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/mixed-demand-trends-for-autos-in-november-as-festive-boost-wears-off-but-signs-of-rural-recovery-visible/articleshow/95848505.cms">Mixed demand trends for autos in November as festive boost wears off but signs of rural recovery visible</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/icici-bank-launches-digital-lending-solution-ilens-powered-by-tcs/articleshow/95849140.cms">ICICI Bank launches digital lending solution iLens, powered by TCS</a>

You Searched For "Singapore Airlines investment in Air India" and got 11 results

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Singapore Airlines to get 25.1% stake in enlarged Air India group

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Vistara will merge with Tata group-owned Air India: Singapore Airlines

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