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Gurugram: <keyword id="22345435" type="General" weightage="20" keywordseo="TATA-SIA-Airlines-Limited" source="keywords" meta.keywordsubtype="org" meta.entityname="TATA SIA Airlines Limited" meta.hostid="261" meta.entityid="TATA SIA Airlines Limited">TATA SIA Airlines Limited</keyword>, known by the brand name of <keyword id="20018887" type="General" weightage="20" keywordseo="Vistara" source="keywords" meta.keywordsubtype="org" meta.entityname="Vistara" meta.hostid="261" meta.entityid="Vistara">Vistara</keyword> announced its merger with <keyword id="19896871" type="General" weightage="20" keywordseo="Air-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Air India" meta.hostid="261" meta.entityid="Air India">Air India</keyword> on Friday. The company said in a statement that customers will not be able to make <keyword id="19916663" type="General" weightage="20" keywordseo="bookings" source="keywords">bookings</keyword> with Vistara for travel on or after November 12. "Starting 03 September 2024, customers will, progressively, no longer be able to make bookings with Vistara for travel on or after 12 November 2024," the company said. However, Vistara will continue to take bookings and operate flights as usual till 11 November 2024. All Vistara aircraft will be operated by Air India and bookings for the routes operated by these aircraft will be redirected to Air India's website, the company informed. During this transition period, both Vistara and Air India will ensure necessary support, consistent communication, and convenience to all customers, every step of the way. Vinod Kannan, Chief Executive Officer, Vistara, said, "We are immensely grateful to all our customers for their support and patronage over the last 10 years. As we progress further in our growth journey, we want to emphasize that this merger is about offering them more choice with a larger fleet and a wider network, while elevating the overall travel experience. Vistara and Air India are committed to ensuring that this transition is smooth and hassle-free. We are excited about this new phase in our journey and look forward to welcoming our customers again soon - as Air India." Campbell Wilson, Chief Executive Officer &amp; Managing Director, Air India, said, "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. The joint team looks forward to offering our guests an expanded network, additional flight options, an enhanced frequent flyer program and the best of both antecedent airlines and are grateful for the support of our loyal customers through this next phase of building a world class, world scale, global airline with an Indian heart." On August 10, Both companies secured the CAR (Civil Aviation Requirement) 145 approval from the Directorate General of Civil Aviation (<keyword id="19899185" type="General" weightage="20" keywordseo="dgca" source="keywords">DGCA</keyword>) to integrate their aircraft line maintenance operations, as per an official release.

Vistara-Air India merger: Bookings for Vistara to stop from Sept 3, unified operations start from Nov 12

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

<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>

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

<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?

<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). SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/passenger-vehicles-to-continue-driving-auto-sales-in-february-evs-gain-a-stronghold/articleshow/98272857.cms">Passenger vehicles to continue driving auto sales in February, EVs gain a stronghold</a> <a href="https://www.businessinsider.in/business/corporates/news/spicejet-to-raise-2500-crore-fresh-capital-convert-carlyles-debt-into-equity-and-demerge-cargo-biz/articleshow/98270557.cms">SpiceJet to raise ₹2,500 crore fresh capital, convert Carlyle’s debt into equity and demerge cargo biz</a> <a href="https://www.businessinsider.in/business/corporates/news/stock-price-run-up-in-paytm-nykaa-zomato-pb-fintech-delhivery-could-see-large-shareholders-cashing-out-bofa/articleshow/98274102.cms">Stock price run up in Paytm, Nykaa, Zomato, PB Fintech &amp; Delhivery could see large shareholders cashing out - BofA</a>

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

<keyword id="6368386" type="General" weightage="80" keywordseo="singapore-airlines" source="Orion">Singapore Airlines</keyword> on Thursday said it is in confidential discussions with <keyword id="6360721" type="General" weightage="100" keywordseo="tatas" source="Orion">Tatas</keyword> for a possible merger of <keyword id="2467342" type="General" weightage="80" keywordseo="vistara" source="Orion">Vistara</keyword> and <keyword id="2573" type="General" weightage="80" keywordseo="air-india" source="Orion">Air India</keyword>. Tatas has 51 per cent stake in Vistara and the rest is with Singapore Airlines (SIA). Tatas is also the owner of Air India. In a regulatory filing, SIA said discussions with Tatas are ongoing and no definitive terms have been agreed upon between the parties. "In line with its multi-hub strategy, SIA is currently in confidential discussions with <keyword id="8555" type="General" weightage="80" keywordseo="tata" source="Orion">Tata</keyword> to explore a potential transaction in relation to the securities of Vistara and Air India Ltd, a subsidiary of Tata (the 'potential transaction'). "The discussions seek to deepen the existing partnership between SIA and Tata, and may include a potential integration of Vistara and Air India," the filing to the Singapore Stock Exchange said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/39-of-mgnrega-job-card-holders-didnt-get-a-single-day-of-work-in-2020-21-says-study/articleshow/94837158.cms">39% of MGNREGA job card holders didn’t get a single day of work in 2020-21 says study</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/yeida-cancels-allotment-of-14-group-housing-projects-due-to-non-payment-of-dues/articleshow/94832924.cms">YEIDA cancels allotment of 14 group housing projects due to non-payment of dues</a>

Discussions on with Tatas for possible merger of Vistara, Air India: Singapore Airlines

<keyword id="2467342" type="General" weightage="100" keywordseo="vistara" source="Orion">Vistara</keyword> airline on Friday announced the addition of a new route to its international network with four weekly flights between Pune and <keyword id="6356662" type="General" weightage="80" keywordseo="singapore" source="Orion">Singapore</keyword>, starting in December. The airline will operate its state-of-the-art A321neo aircraft with a three-class configuration on the route as it strengthens its existing connectivity between <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> and the 'Lion City'. The airline also recently announced that it will fly daily between Mumbai and Kathmandu starting November 15, enabling convenient onward connections to popular international destinations like Dubai, Jeddah, Abu Dhabi and more. Vinod Kannan, Chief Executive Officer of Vistara, said, "We are very excited to be able to launch the long-awaited connection between Pune and Singapore. Singapore is a key market for business and leisure travel from various points in India and we are glad that the new route will offer enhanced connectivity to our customers. "We are also delighted to introduce another international route between Mumbai and Kathmandu thereby offering the customers the option to avail seamless connections beyond Mumbai across our domestic as well as international network. We continue to densify our network for the convenience of our customers and offer them the experience of flying with India's best airline." TATA <keyword id="6359180" type="General" weightage="80" keywordseo="sia" source="Orion">SIA</keyword> Airlines Limited, known by the brand name Vistara, is a 51:49 joint venture between Tata Sons Private Limited and Singapore Airlines Limited (SIA). Vistara commenced its commercial operations on January 9, 2015, with an aim to set new standards in the aviation industry in India and currently it connects destinations across India and abroad. The airline has a fleet of 53 aircraft, including 41 Airbus A320, five Airbus A321neo, five <keyword id="6357957" type="General" weightage="80" keywordseo="boeing" source="Orion">Boeing</keyword> 737-800NG and two Boeing 787-9 Dreamliner aircraft and has flown more than 35 million customers since starting operations. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/nickelodeon-celebrates-10-years-of-motu-patlu-indias-famed-animated-duo/articleshow/94859544.cms">Nickelodeon celebrates 10 years of Motu Patlu, India’s famed animated duo </a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/infosys-too-cracks-whip-but-mulling-policy-to-allow-moonlighting/articleshow/94858304.cms">Infosys too cracks whip but mulling policy to allow moonlighting</a>

Vistara ramps up ops, announces connectivity between Pune and Singapore

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?

Two aborted missions, three different ministers, multiple rule changes and two decades later, Indian taxpayers will no longer have to pay ₹20 crore per day to keep the loss-making <keyword id="2573" type="General" weightage="100" keywordseo="air-india" source="Orion">Air India</keyword> flying. While opposition Congress expectedly attacked the decision as selling the family silver, DIPAM Secretary Tuhin Kanta Pandey said what Tata is getting is not a cash cow but an airline which is bleeding where money needs to be pumped in to refurbish obsolete aircraft and dust up strangled ones while being unable to touch any employee for one year and only be able to resize staff after paying a VRS. "It won't be a very easy task there. Only advantage is they (new Air <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword> owner) are paying the price which they think they can manage. They are not taking the excessive debt accumulated to fund years of losses. We are continuing it as an ongoing concern.... This process has also saved huge amount of taxpayers money going forward," Pandey told PTI. Earlier this month, the government had accepted an offer by Talace Pvt Ltd, a unit of the holding company of salt-to-software conglomerate Tata group, to pay ₹2,700 crore cash and takeover ₹15,300 crore of the airline's debt. As on August 31, Air India had a total debt of ₹61,562 crore. About 75 per cent of this debt or ₹46,262 crore will be transferred to a special purpose vehicle AIAHL before handing over the loss-making airline to the Tata Group. <keyword id="6360721" type="General" weightage="20" keywordseo="tatas" source="Orion">Tatas</keyword> would not get to retain non-core assets such as the Vasant Vihar Housing colony of Air India, Air India Building at Nariman Point in Mumbai, and Air India Building in New Delhi. "We have only allowed (Tata group) for use for two years, but within two years we have to work out a monetisation plan for it to be sold so that the money can be used to set off AIAHL liabilities," Pandey said. Of the 141 Air India aircraft that Tatas would get, 42 are leased planes while the remaining 99 are owned. Tata will also take over the capitalised lease liability on account of operating leases of Rs 9,185 crore. Besides, some of these 141 planes are grounded due to lack of engine and other maintenance. Also the obsolescence factor is there are many as not fuel efficient. "We want to finish the handover quickly, because we are paying Rs 20 cr /day to run the airline. The new owner will need to put in a lot of capital because they have to do capital expenditure to improve aircraft, refurbish and give new orders for obsolete aircraft. Only then they may be able to turnaround. Also conditions have been put that you cannot resize employees for 1 year, and thereafter in the second year, you have to give VRS," Pandey said. The government is divesting its 100 per cent ownership of Air India and Air India Express along with its 50 per cent stake in ground-handling company AISATS. The government will, however, transfer about Rs 16,000 crore of unpaid current liabilities, in excess of current and non current assets, such as fuel bills and other pending dues that Air India owes to suppliers, to Air India Assets Holding Ltd (AIAHL). A Letter of Intent (LoI) has been issued to Tatas on October 11 confirming the government's willingness to sell its 100 per cent stake in the airline. Tatas have now to accept the LoI, post which the Share Purchase Agreement (SPA) will be signed. Conditions precedent to the transactions would need to be satisfied by Tatas before they actually can take over the operations. Normally within 14 days of acceptance of LOI, the SPA is signed. While this will be the first privatisation since 2003-04, Air India will be the third airline brand in the Tatas' stable - it holds a majority interest in AirAsia India and Vistara, a joint venture with Singapore Airlines Ltd. Air India will give it access to a fleet of 117 wide-body and narrow-body aircraft and Air India Express Ltd another 24 narrow-body aircraft besides control of 4,400 domestic and 1,800 international landing and parking slots at domestic airports, as well as 900 slots at airports overseas such as London's Heathrow. Tatas beat the ₹15,100-crore offer by a consortium led by SpiceJet promoter Ajay Singh and the reserve price of ₹12,906 crore set by the government for the sale of its 100 per cent stake in the loss-making carrier. Air India was first put on the block under the Atal Bihari Vajpayee government when the newly created disinvestment ministry led by <keyword id="47167" type="General" weightage="20" keywordseo="arun-shourie" source="Orion">Arun Shourie</keyword> offered 40 per cent of the government stake in the airline for sale. Foreign airlines, including Lufthansa, Swissair, Air France-Delta, British Airways, Emirates and Singapore Airlines (SIA) expressed interest in buying the airline but they pulled out after the government-mandated taking a local partner. Among the two domestic majors in fray, Hindujas, who were embroiled in the Bofors scam, was disqualified while Tata's partner, SIA, pulled out citing 'adverse climate and opposition to privatisation'. The privatisation plan was revived under Finance Minister <keyword id="42575" type="General" weightage="20" keywordseo="arun-jaitley" source="Orion">Arun Jaitley</keyword> in 2017 when the government offered for sale 74 per cent in the airline. But the decision of the government to hold 26 per cent in the airline and auction rules saw no bidder turning up. With 4 years of uncertainty over privatisation, Air India struggled with dipping employee morale and rising inefficiencies within the organisation. When <keyword id="6354642" type="General" weightage="20" keywordseo="modi" source="Orion">Modi</keyword> took over with a decisive mandate for the second time, Air India privatisation was revived in 2020, under current Finance Minister <keyword id="129243" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="Orion">Nirmala Sitharaman</keyword>, with an offer to completely sell a 100 per cent stake. A new decision-making mechanism was worked out. The government sweetened the deal for Air India buyers, giving them flexibility to decide on the amount of Air India debt they want to absorb. The bids were invited on the enterprise value of the company, which includes debt as well as cash on the company's balance sheet. Air India started suffering losses every year since its merger with Indian Airlines in 2007-08. A Turnaround Plan (TAP) as well as a Financial Restructuring Plan (FRP) were approved for Air India by the previous UPA regime in 2012. However, the TAP did not work out and Air India continued to reel under losses with the government giving Rs 20 crore/day to keep the airline afloat. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/hdfc-bank-avenue-supermarts-hcl-tech-and-other-stocks-to-watch-out-for-on-october-18/slidelist/87098001.cms">HDFC Bank, Avenue Supermarts, HCL Tech and other stocks to watch out for on October 18</a>

'We want to finish the handover quickly, because we are paying ₹20 crore a day to run the airline,' says DIPAM Secretary on privatisation of Air India

A day after <keyword id="1583080" type="COMPANY" weightage="80" keywordseo="AirAsia-India">AirAsia India</keyword> got the nod of the Directorate General of Civil Aviation, <keyword id="1878233" type="UNKNOWN" weightage="100" keywordseo="Tata-SIA-Airlines">Tata SIA Airlines</keyword>, the 51:49 joint venture between <keyword id="46894" type="PERSON" weightage="80" keywordseo="Tata-Sons">Tata Sons</keyword> and <keyword id="6368386" type="COMPANY" weightage="60" keywordseo="Singapore-Airlines">Singapore Airlines</keyword>, has come out with its tentative route network for the first four years. 
 <keyword id="6354787" type="ORGANIZATION" weightage="60" keywordseo="DGCA">DGCA</keyword> has invited public feedback on the proposed carrier's application and has also made public the airline’s tentative route and operations. Tata SIA’s application says that the airline proposes to commence operations by September 1 this year. 
 
Tata SIA plans to function from Delhi, which will be its operational hub, and will operate across Mumbai, Goa, Patna, Chandigarh, Srinagar, Hyderabad and Bangalore in its first year. It is expected to begin with two flights a day to Mumbai, with one flight going onwards to Goa. The first phase will also have two flights a day to Bengaluru, Ahmedabad and Hyderabad. 
 
Besides the metros, the airline will operate one flight a day to Srinagar, Patna, Chandigarh and Jammu. The airline plans to expand aggressively and it will be adding cities like Chennai, Pune, Lucknow, Varanasi, Jaipur, Kolkata, Amritsar, Bagdogra, Indore and Cochin within the first four years. 
 
As per the proposed plan, the Delhi-Mumbai route will be the focal point of its operations and it is expected to have 49 weekly flights (or seven daily flights) by 2018. 
 
The application also says that the airline will use the existing variant of the Airbus A320, as well as the NEO or the new engine option of the Airbus A320, which is more fuel-efficient. 
Image Courtesy: Thinkstock

Tata SIA Airlines Releases Proposed Route
Network; To Focus On Delhi-Mumbai Segment

<ul><li><keyword id="8555" type="CITY" weightage="20" keywordseo="Tata">Tata</keyword> Sons, which is the joint owner of <keyword id="2467342" type="COMPANY" weightage="20" keywordseo="Vistara">Vistara</keyword> with <keyword id="6368386" type="COMPANY" weightage="20" keywordseo="singapore-airlines">Singapore Airlines</keyword>, is in talks to purchase a controlling stake in struggling carrier <keyword id="6358200" type="DOMAIN" weightage="20" keywordseo="jet-airways">Jet Airways</keyword>. </li><li>The Indian conglomerate is reported to be mulling an all-stock merger between SIA Airlines, the parent company of Vistara, and Jet Airways. </li><li>However, the deal is contingent on the majority owner of Jet Airways, <keyword id="122732" type="PERSON" weightage="20" keywordseo="Naresh-Goyal">Naresh Goyal</keyword>, relinquishing control of the airline. </li><li>The chairman of Tata Sons, N. Chandrasekaran, will reportedly make a case for the Jet Airways deal to the rest of the conglomerate’s managing board today. </li></ul> India’s media outlets have been rife in recent days with news that Tata Sons, one of the country’s largest conglomerates and joint owner of Vistara with Singapore Airlines, is in talks to purchase a controlling stake in <a href="https://www.businessinsider.in/jet-airways-has-a-plan-to-stave-off-a-potential-bankruptcy/articleshow/65992075.cms">struggling carrier Jet Airways</a>. If successful, the combined entity will be one India’s largest airlines, giving Tata Sons a firmer grasp of the country’s aviation sector. In fact, Tata Sons is reported to be mulling an all-stock merger between SIA Airlines, the parent company of Vistara, and Jet Airways as <a href="https://economictimes.indiatimes.com/industry/transportation/airlines-/-aviation/tata-sia-airlines-eyes-all-stock-merger-of-vistara-with-jet-airways/articleshow/66628400.cms">the potential first step </a>to a two-part transaction, according to the Economic Times. This leg of the deal will likely involve a share swap. The second part of the deal, however, is where it gets tricky for Jet Airways. Tata Sons wants Naresh Goyal, the promoter of Jet Airways, to relinquish his control of the company and possibly <a href="https://www.business-standard.com/article/companies/tata-sons-jet-airways-deal-only-if-naresh-goyal-gives-up-board-seat-118111501545_1.html">give up his board seat</a>. As a result, the second step could involve a complete buyout of Goyal’s stake in the combined entity by Singapore Airlines. The impetus is clear. Rather than giving Goyal a fresh round of funds to do as he pleases, Tata Sons wants the ability to implement strict cost control and restructuring measures at the airline. Goyal isn’t expected to cash out easily, but if that’s the only hurdle preventing a rescue of Jet Airways, it may be the most prudent thing to do. The most plausible scenario will see him and his partner in Jet Airways, Etihad Airlines, end up with a minority stake. The Goyal family currently holds a 51% stake in the airline while Etihad has a 24% share. The deal has its pros and cons for Tata Sons. By gaining access to Jet’s fleet of aircraft, national and international routes, flight facilities and landing licenses, Tata Sons will become a bigger force to reckon with in the industry. Vistara, on the other hand, will benefit from the added heft of a number of cross-country routes. However, Jet is dangerously close to insolvency. Not only will Tata Sons have to take responsibility for Jet’s debts and, but it will also have to pump a significant amount of capital to turn around the troubled airline. Wide support It seems that India’s capital markets are in mood to cheer the deal. Jet Airways’ shares on the National Stock Exchange (NSE) rose by <a href="https://www.google.co.in/search?q=jet+airways+share+price&amp;rlz=1C1GCEU_enIN820IN820&amp;oq=jet+airways+share+price&amp;aqs=chrome.0.0l6.4874j0j7&amp;sourceid=chrome&amp;ie=UTF-8">27% </a>on 15 November as reports surfaced that Tata Sons was conducting due diligence on Jet Airways came to light. In addition, the Indian government is also said to be in favour of the deal. In fact, according to a <a href="https://www.bloombergquint.com/global-economics/tata-said-to-have-been-asked-by-modi-to-explore-buying-jet-stake#gs.MEU1Mas">Bloomberg report</a>, the Narendra Modi administration urged Tata Sons to consider the deal, and possibly add a sweetener in the form of a haircut on Jet Airways’ loans to state-run banks. It is no secret that India’s aviation sector is in <a href="https://www.businessinsider.in/indias-largest-passenger-airline-just-posted-its-first-ever-quarterly-loss-since-going-public-and-its-results-reflect-the-larger-woes-of-the-countrys-aviation-sector/articleshow/66362156.cms">the doldrums</a> owing to the recent surge in fuel prices, and the government doesn’t want to risk the failure of a large airline as it heads into election year. The chairman of Tata Sons, N. Chandrasekaran, will reportedly<a href="https://www.livemint.com/Companies/ldbWRm3h3FgNEpCBns9ntL/Tata-Sons-chairman-to-pitch-to-board-on-plan-to-buy-Jet-Airw.html"> make a case for the Jet Airways deal</a> to the rest of the conglomerate’s managing board on Friday. The theme of his pitch will be clear. The deal will catapult Vistara from a small carrier operating on popular routes to one of the country’s largest airlines. SEE ALSO: <a href="https://www.businessinsider.in/indias-largest-passenger-airline-just-posted-its-first-ever-quarterly-loss-since-going-public-and-its-results-reflect-the-larger-woes-of-the-countrys-aviation-sector/articleshow/66362156.cms">India’s largest passenger airline just posted its first ever quarterly loss since going public — and its results reflect the larger woes of the country’s aviation sector</a> <a href="https://www.businessinsider.in/jet-airways-has-a-plan-to-stave-off-a-potential-bankruptcy/articleshow/65992075.cms">Jet Airways has a plan to stave off a potential bankruptcy</a> <a href="https://www.businessinsider.in/the-indian-government-is-planning-a-rescue-package-for-the-aviation-sector-as-the-losses-pile-up/articleshow/65681289.cms">The Indian government is planning a rescue package for the aviation sector as the losses pile up</a>

You Searched For "Tata SIA Airlines" and got 12 results

Vistara-Air India merger: Bookings for Vistara to stop from Sept 3, unified operations start from Nov 12

ANI

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

PTI

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

PTI

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

PTI

Can Air India emulate Singapore Airlines' record profits?

ANI

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

ANI

Discussions on with Tatas for possible merger of Vistara, Air India: Singapore Airlines

PTI

Vistara ramps up ops, announces connectivity between Pune and Singapore

IANS

Why Singapore Airlines is investing in Air India?

ANI

'We want to finish the handover quickly, because we are paying ₹20 crore a day to run the airline,' says DIPAM Secretary on privatisation of Air India

PTI

Tata SIA Airlines Releases Proposed Route Network; To Focus On Delhi-Mumbai Segment

BI India Bureau

Indian conglomerate Tata is in talks to buy out troubled carrier Jet Airways in a deal that could create one of the country's largest airlines

Dilsher Dhillon

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