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 (SIA). As part of the transaction, SIA will also invest Rs 2,058.5 crore in Air India.
Air India to shut offices in Cairo, Tehran.
Private airlines Jet Airways and IndiGo joined the race for low-fares, offering their customers hefty discounts, after Air India rolled out a similar offer to challenge Vistara, the latest full-service entrant in the domestic market.
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Singapore Airlines' deal with Tata Sons (Tata) will inject a further SGD 360 million ($267 million) into Air India. It will give SIA a 25.1 per cent stake in the enlarged Air India group following its takeover by Tata and merger with Vistara Airlines. The November 2022 deal between Singapore Airlines and Tata Sons to further inject $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 Vistara, with a strong presence in all key airline segments in India.
A large number of passengers, almost 2,000 of them, were stranded due to cancellation of flights owing to bad weather, on Thursday protested at the Leh airport.
With better utilisation of slots, foreign flying rights, and greater international connections, the operator of India's largest airport feels a privatised Air India will bring commercial benefit to Delhi airport and help it revive quicker from the pandemic shock. Delhi is the largest hub for Air India, with most of its long-haul flights to the US and Europe being operated from here. The airport plans to give its most modern terminal 3 (T3) exclusively to the Tata Group.
"Tata Sons board is meeting tomorrow (Friday) to consider the proposal to bid for Jet Airways," people in the know of the development told PTI.
The revised policy, which has come into effect since last week, means passengers who are looking to skip the long queues at airports will have to shell out a fee for it. For IndiGo, the lowest seat fees is Rs 100 while for SpiceJet it is Rs 99.
Tata Sons will increase its stake in budget carrier AirAsia India (AAI) to 83.67 per cent by acquiring an additional 32.67 per cent for $37.66 million from AirAsia Investment Ltd (AAIL), according to a regulatory filing. Currently, AAIL, which is a wholly-owned subsidiary of Malaysia-based AirAsia, holds 49 per cent stake in the Bengaluru-based AirAsia India. In a regulatory filing to stock exchange Bursa Malaysia, AirAsia said, "The board of directors of AirAsia wishes to announce that its wholly-owned subsidiary AAIL and Tata Sons Pvt Ltd, India, on December 29, entered into a share purchase agreement."
SpiceJet's original promoter is closer to taking the management reins.
Two years after selling his budget carrier, Air Deccan to Vijay Mallya-owned Kingfisher Airlines, its former chairman Captain G R Gopinath, still harbours a dream to return to the low-cost airline segment, which he pioneered in the country.
For the Rs 599 offer, taxes and other fees and charges, barring fuel surcharge, would be additional, but the Rs 1,999 offer is all-inclusive
Amid turbulent times in the aviation space, top executives of listed carriers have seen their salaries coming down, with low-cost SpiceJet's Chief Executive Officer (CEO) taking the biggest cut.
Some airline sources, however, fear it will reduce overall yields
US-based management guru Kevin Freiberg on Wednesday cautioned that survival of low-cost airlines depended on their ability to deliver 'value' to the target customers and asked them to review their services. \n
The national carrier, which is already struggling with its fuel payments, spends Rs 6,000-7,000 crore annually on fuel. A 10 per cent hike in crude price would mean over Rs 50-58 crore of extra costs for the airline.
Based on the Skytrax ranking for 2018, IndiGo is number two among the best low-cost carriers in Asia, behind rival AirAsia.
India requested Pakistan to let Modi's aircraft fly over its airspace to Bishkek in Kyrgyzstan.
Reduction in fuel price was supposed to bring back good luck for Indian airlines. But with the global spread of coronavirus, airlines are being forced to rejig their network, cut flights, and delay launches.
The new name would not have the Tata or the SIA name, confirmed a spokesperson.
Naresh Goyal only gave an undertaking not to sell any of his 51% stake in return for raising working capital debt from PNB.
AirAsia has grand plansfor India.
AirAsia India was set up as a three-way joint venture.
'Our focus is not going to be metro to metro routes.' 'We will begin by focusing on metro to non-metro (routes).' 'Metro to tier-2 cities or tier-3 cities is where there is a lot of space for affordable, efficient carriers.'
SpiceJet slumped slumped almost 14 per cent amid reports that the Airports Authority of India (AAI) has decided to withdraw credit facility to the low-cost carrier.
Unlikely to happen in less than a year,despite the advantage of the parent airline's base.
In a fresh trouble for the budget carrier SpiceJet, aircraft lessors have approached the aviation regulator DGCA, seeking its permission to repossess 11 Boeing planes of the airline, even as its revival plan is under review of the Civil Aviation Ministry.
Vistara is trying to be leaner and meaner, while staying focused on the original brand promise; it aims to be profitable by FY21. Arindam Majumder reports.
The $100 billion Tata group conglomerate is a major beneficiary of the decision to open up aviation in India.
In 2015, India's domestic aviation market clocked 81 million flights.
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The proposal of Tatas and Singapore Airlines for a new joint venture, entailing foreign investment of $49 million, is likely to come up before the Foreign Investment Promotion Board for approval on October 18.
Low cost air-carrier IndiGo has flagged off its maiden foray into the international market.
AirAsia may breakeven by June this year.
Bajaj Auto's new four-wheeled people-carrier might well create an entirely new category.
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