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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

<keyword id="19923231" type="General" weightage="100" keywordseo="Air-India-Express" source="keywords" meta.keywordsubtype="org" meta.entityname="Air India Express" meta.hostid="261" meta.entityid="Air India Express">Air India Express</keyword>, part of the <keyword id="19924335" type="General" weightage="20" keywordseo="Tata-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Group" meta.hostid="261" meta.entityid="Tata Group">Tata Group</keyword>, is set to reconfigure its aircraft starting in April 2025 and will be focusing solely on <keyword id="23932064" type="General" weightage="20" keywordseo="economy-class-seating" source="keywords">economy class seating</keyword>, a PTI report says. This follows the merger of AIX Connect (formerly AirAsia India) with Air India Express on October 1, marking a major step in Tata’s broader consolidation of its airline operations. Currently operating a fleet of 90 aircraft, including Boeing 737s and A320s, Air India Express has plans to expand its reach, particularly to smaller cities and towns. The airline aims to simplify its fleet by eliminating <keyword id="21350335" type="General" weightage="20" keywordseo="business-class" source="keywords">business class</keyword> seats, opting instead for a uniform economy layout across its narrow-body planes. The decision comes as the airline faces supply chain challenges that have delayed the delivery of new aircraft. To bridge the gap, it has already inducted 35 white-tail Boeing 737-8 planes, with plans to add 15 more in the coming months. White-tail aircraft are planes originally manufactured for other carriers and later repurposed by Air India Express. These planes, often with varying business class configurations, will be reconfigured to fit the airline’s new model. The PTI report adds that by eliminating business class, the airline aims to better serve its core market—connecting <keyword id="20567886" type="General" weightage="20" keywordseo="Tier-2-and-Tier-3-cities" source="keywords">Tier 2 and Tier 3 cities</keyword> with major metropolitan hubs, while expanding its international network. In addition to strengthening its domestic routes, Air India Express plans to focus on regional international flights, particularly to destinations in the Gulf, Southeast Asia, and eventually South Asia. Air India Express’ network strategy is closely aligned with that of the larger Tata Group’s airline portfolio, which includes Air India, Vistara, and the recently merged AIX Connect. As part of this consolidation, Air India Express aims to meet growing demand for affordable travel between smaller towns and metros, a market segment identified as a key growth area. The move towards an economy-only fleet reflects broader industry trends, with many <keyword id="20314404" type="General" weightage="20" keywordseo="low-cost-carriers" source="keywords">low-cost carriers</keyword> focusing on streamlining operations to reduce costs and improve efficiency. Air India Express plans to increase its fleet to over 110 aircraft by the end of the financial year, with further additions expected in the future. (with PTI inputs)

Air India Express to bid adieu to business class seats next year, will turn into economy only airlines

<ul><li><keyword id="19986399" type="General" weightage="20" keywordseo="Tata-Electronics" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Electronics" meta.hostid="261" meta.entityid="Tata Electronics">Tata Electronics</keyword> has reportedly closed a deal to acquire a majority stake in Pegatron’s iPhone plant in India.</li><li>The Pegatron plant has a production capacity of five million iPhones annually.</li><li>This will be the company’s third iPhone manufacturing plant in India.</li></ul> Tata Electronics continues to strengthen its smartphone manufacturing business in India as it has reportedly sealed a deal to acquire a majority stake in Taiwanese contract manufacturer Pegatron iPhone plant in India. Earlier reports had revealed that Pegatron is in talks with Tata to sell its Chennai plant as part of Cupertino tech giant Apple’s strategy to diversify manufacturing outside of China amid geopolitical tensions between Beijing and Washington. <div type="Article" hostid="261" msid="113204340" title="iPhone 16 Pro and iPhone 16 Pro Max with bigger displays, A18 Pro chipset launched starting at ₹1,19,900" mstype="2" mssubtype="0"></div> According to a<a href="https://www.reuters.com/markets/deals/tata-seals-deal-with-pegatron-iphone-plant-indias-tamil-nadu-sources-say-2024-11-17/"> report</a> by Reuters, Tata has agreed to acquire a 60% stake in a new joint venture with Pegatron that will see the Indian conglomerate oversee the day-to-day operations while Pegatron offers technical support, as per two sources familiar with the deal. The financial details of the deal have not been made public and the two companies reportedly plan on filing for approval from the Competition Commission of India (CCI) soon. <h2>Tata’s iPhone production in India to get a boost</h2>Tata already operates an iPhone assembly plant in Karnataka, which it acquired from Taiwanese giant Wistron last year. The company is building a second plant in Hosur, Tamil Nadu. The new plant as part of its partnership will give a boost to Tata’s iPhone production capabilities and make it the only company manufacturing iPhones in India apart from Foxconn. <div type="Article" hostid="261" msid="113203568" title="iPhone 16, iPhone 16 Plus with A18 chipset launched starting at ₹79,900" mstype="2" mssubtype="0"></div> The Pegatron facility has around 10,000 employees and has the capacity to manufacture five million iPhones annually. India, which contributed to around 12 to 14% of total iPhone shipments in 2023 is expected to contribute around 20 to 25% of shipments this year. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/webstories/ntpc-green-energy-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/115403791.cms">NTPC Green Energy IPO – GMP, risk factors and all you need to know</a> <a href="https://www.businessinsider.in/tech/mobile/news/indian-smartphone-shipments-grow-5-6-in-q3-2024-vivo-leads-the-market/articleshow/115329847.cms">Indian smartphone shipments grow 5.6% in Q3 2024, Vivo leads the market</a> <a href="https://www.businessinsider.in/entertainment/news/jiostar-announces-plans-starting-at-15-heres-everything-you-need-to-know/articleshow/115326701.cms">JioStar announces plans starting at ₹15 – here’s everything you need to know</a>

Tata to buy a majority stake in Pegatron's iPhone plant in India

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: <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

<ul><li>Indian conglomerate <keyword id="19924335" type="General" weightage="20" keywordseo="Tata-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Group" meta.hostid="261" meta.entityid="Tata Group">Tata Group</keyword> is reportedly looking to acquire a majority stake in <keyword id="19923299" type="General" weightage="20" keywordseo="Vivo-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Vivo India" meta.hostid="261" meta.entityid="Vivo India">Vivo India</keyword>.</li><li>Vivo India is the Indian unit of Chinese smartphone maker Vivo.</li><li>This comes amid a government push to involve a domestic company in operations.</li></ul>Tata Group is reportedly looking to acquire a majority stake in smartphone maker Vivo India. The Chinese smartphone maker has been looking to partner with domestic companies amid a push from the Indian government to involve an Indian company in its manufacturing and distribution operations. According to a<a href="https://www.moneycontrol.com/news/telecom/exclusive-tata-group-eyes-majority-stake-in-vivo-india-unit-bhagwati-buys-greater-noida-factory-12748428.html"> report</a> by Moneycontrol, Tata Group and Vivo are currently in an advanced stage of discussions. “The discussions have reached an advanced stage where talks began around valuations. Vivo has been seeking a higher valuation than what Tatas are offering. The Tatas are interested in the deal, but nothing has been finalised yet,” a source familiar with the matter told Moneycontrol. The Indian government reportedly wants an Indian company to have a stake of at least 51% in the joint venture with a Chinese smartphone maker, along with local leadership. <cmsannotation type="cmsannotation" annotationid="ED action against Vivo" comment="subhead" text="ED action against Vivo">ED action against Vivo</cmsannotation> Vivo has been under the Indian government’s scanner and was even<a href="https://www.businessinsider.in/tech/enterprise/news/ed-has-reportedly-raided-44-locations-of-vivo-and-related-firms-across-the-country/articleshow/92672031.cms"> raided</a> by the <keyword id="19895344" type="General" weightage="20" keywordseo="Enforcement-Directorate" source="keywords" meta.keywordsubtype="org" meta.entityname="Enforcement Directorate" meta.hostid="261" meta.entityid="Enforcement Directorate">Enforcement Directorate</keyword> (ED) in July 2022. The ED had claimed that Vivo had transferred ₹62,476 crore to its parent company in China over a five-year period to avoid paying taxes in the country. The agency had also accused the company of violating the Prevention of Money Laundering Act (PMLA). <cmsannotation type="cmsannotation" annotationid="Bhagwati Products take over Vivo’s factory" comment="subhead" text="Bhagwati Products take over Vivo’s factory">Bhagwati Products take over Vivo’s factory</cmsannotation> In yet another push to involve an Indian company in its operations, Vivo’s 14-acre manufacturing factory in Greater Noida has been taken over by Bhagwati Products (Micromax). The company has reportedly started hiring staff and will contract-manufacture smartphones for Vivo. Bhagwati Products has formed a joint venture with original design manufacturer (ODM) Huaqin Technology and this JV is awaiting government approval. Vivo will continue to manufacture from its new 170-acre factory in Greater Noida. <cmsannotation type="cmsannotation" annotationid="Tata Group’s push in smartphone manufacturing" comment="subhead" text="Tata Group’s push in smartphone manufacturing">Tata Group’s push in smartphone manufacturing</cmsannotation> This is not the first time the Tata Group is looking at manufacturing smartphones. Tata Group in 2023 acquired Wistron’s operations in India for $125 million, making it the first Indian company to manufacture Apple iPhones. There have been reports that the company is also in talks with Pegatron, another iPhone maker to acquire a majority stake. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/webstories/bmw-r-1300-gs-superbike-launched-in-india-at-20-95-lakh/slidelist/110971512.cms">BMW R 1300 GS superbike launched in India at ₹20.95 lakh</a> <a href="https://www.businessinsider.in/sports/webstories/kkr-beats-mi-in-terms-of-brand-value-csk-and-rcb-continue-to-lead/slidelist/110963926.cms">KKR beats MI in terms of brand value, CSK and RCB continue to lead</a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-z-fold-6-will-reportedly-get-a-100-price-bump/articleshow/110959434.cms">Samsung Galaxy Z Fold 6 will reportedly get a $100 price bump</a>

Tata Group reportedly looking to acquire a majority stake in Vivo India

<keyword id="6378232" type="General" weightage="20" keywordseo="Air-India-Express" source="Orion">Air India Express</keyword> has cancelled "scores of flights" due to a shortage of cabin crew members as a section of them are reporting sick to protest against alleged mismanagement at the Tata Group-owned airline, according to sources. Discontent has been brewing among a section of the cabin crew at the low-cost carrier for some time now, especially after the start of the process of merger of AIX Connect, formerly AirAsia India, with itself. The sources on Wednesday said several cabin crew members started reporting sick since Monday evening and as there are not enough cabin crew members, "scores of flights" have been cancelled at various airports, including Kochi, Calicut and Bangalore. Late last month, a union representing a section of the Air India Express cabin crew alleged that the airline is being mismanaged and there is a lack of equality in the treatment of the staff. Air India Express Employees Union (AIXEU), a registered union, which claims to represent around 300 cabin crew members, mostly seniors, had also alleged that mismanagement of the affairs has affected the morale of the employees. Many passengers took to social media on Wednesday complaining about the sudden cancellation of flights. In response to a passenger's post on X about flight cancellation, Air India Express apologised and said the flight was cancelled "due to operational reasons". "As part of our service recovery process, you can either opt to reschedule the flight within the next 7 days or request a full refund through our chat bot Tia...," the airline said in a post on X. The development at Air India Express comes a month after <keyword id="19924335" type="General" weightage="20" keywordseo="Tata-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Group" meta.hostid="261" meta.entityid="Tata Group">Tata Group</keyword> full-service carrier Vistara witnessed pilot woes, forcing it to temporarily cut down capacity by 10 per cent or 25-30 flights daily. As part of consolidating its airline business, Tata Group is merging Air India Express and AIX Connect, as well as Vistara with Air India. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/aadhar-housing-finance-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/109919298.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/aadhar-housing-finance-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/109919298.cms" target="_blank">Aadhar Housing Finance IPO – Price band to risk factors, all you need to know</a><a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-april-2024-tata-punch-continues-to-dominate/slidelist/109909744.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-april-2024-tata-punch-continues-to-dominate/slidelist/109909744.cms" target="_blank">Top-selling cars in India in April 2024 – Tata Punch continues to dominate</a><a href="https://www.businessinsider.in/tech/news/worldwide-tablet-shipments-grow-in-q1-2024-after-two-years-of-decline/articleshow/109876390.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/worldwide-tablet-shipments-grow-in-q1-2024-after-two-years-of-decline/articleshow/109876390.cms" target="_blank">Worldwide tablet shipments grow in Q1 2024 after two years of decline</a>

You Searched For "tatas acquire air india" and got 8 results

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

PTI

Air India Express to bid adieu to business class seats next year, will turn into economy only airlines

BI India Bureau

Tata to buy a majority stake in Pegatron's iPhone plant in India

Sourabh Jain

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

ANI

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

PTI

Vistara to operate last flight under its brand on November 11

PTI

Tata Group reportedly looking to acquire a majority stake in Vivo India

Sourabh Jain

Air India Express cancels flights due to cabin crew shortage: Sources

PTI

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