The group began to outperform the broader market only with the onset of the pandemic in March 2020 while earlier it was largely keeping pace with the Sensex. The group's market cap is up 164.4 per cent since the end of March 2020 against a 105 per cent rally in the Sensex.
Several new airlines are likely to fly in the Indian sky in the coming months with the government giving flying licence to four of the six companies, which had sought permits for launching scheduled, private or charter air operations.
AirAsia says deal not violative of shareholder agreement.
Vistara is keen to take to global skies.
A bench of Chief Justice G Rohini and Justice Rajiv Sahai Endlaw posted the matter for hearing on Friday.
Domestic air passenger volume spiked 70.46 per cent in October to 89.85 lakh over the same month of 2020, DGCA data showed on Thursday. The Indian carriers had flown 52.71 lakh passengers in October last year. It may be recalled that domestic traffic along with international flight services remained shut for two months until May 25, 2020, when scheduled air services were resumed in a graded manner.
Will Jet Airways benefit by shutting its low-cost carrier in a highly price-conscious market?
TCS has acquired Singapore Airlines' 51 per cent stake in Aviation Software Development Consultancy India Ltd for Rs 14.02 crore.
Mukesh Ambani-owned RIL's JioMart is set to launch a slew of new products including financial services, electronics to airline tickets to take on the competition from upcoming rivals like the Tata Super app and other established players including PayTM, Amazon and Flipkart. This comes at a time when RIL's e-commerce revenues are set to grow by 35 per cent to $15 billion within four years and its core retail revenue is expected to grow at the same pace to $44 billion, as per a forecast by Goldman Sachs. "The Tata vs JioMart war will be the next big corporate battle to watch. "While Tata has an upper hand like in-house products and brands, RIL has the backing of global biggies like Google, Facebook and Microsoft," said head of a rating firm asking not to be quoted.
"The strategic divestment transaction of Air India successfully concluded today with transfer of 100 per cent shares of Air India to M/s Talace Pvt Ltd along with management control," DIPAM secretary Tuhin Kanta Pandey said in a tweet. A new board, led by the strategic partner, takes charge of Air India, he added.
Singapore Airlines (SIA) is engaged in confidential talks with Tata Sons for merging Vistara with Air India, the flagship carrier of the Republic of Singapore informed the stock exchange in the Southeast Asian nation on Thursday in a first acknowledgement of a possible integration of the two airlines. "In line with its multi-hub strategy, SIA is currently in confidential discussions with the Tatas to explore a potential transaction in relation to the securities of Vistara and Air India. "The discussions seek to deepen the existing partnership between SIA and Tatas and may include a potential integration of Vistara and Air India," SIA said in a notification to the Singapore stock exchange. SIA owns 49 per cent stake in Vistara and is among the four airlines run by Tata Group.
Jet Airways, IndiGo and GoAir achieved operating profits of Rs 122.6 crore (Rs 1.22 billion), Rs 795.8 crore (Rs 7.95 billion) and Rs 85.1 crore (Rs 851 million) respectively during the same period, Minister of State for Civil Aviation K C Venugopal said in reply to a question.
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.
Following the entry of Tata-SIA and AirAsia into the Indian aviation market, the domestic aviation industry is seeing increased interest from private entities.
The infusion will help the airlines plan their next rounds of operations as easing of 5/20 norms
Airline officials said the operational launch may be held in the later part of October.
Tata's Vistara has a very strong core team to look into daily operations.
Management and leadership changes, in addition to synchronising operations between all its airlines, are showing visible results for Air India. Data from the Directorate General of Civil Aviation (DGCA) show that there has been a marked improvement in key operational parameters of Air India after the Tata group took complete control of the national airline in January. One of the most dramatic improvements has been noticed in Air India's passenger load factor (PLF) - a crucial metric of capacity utilisation of an airline's fleet that shows how many seats it has been able to fill on every flight.
Eyeing potential business opportunity, Boeing Corporation is planning to approach the proposed Tata-Singapore Airlines.
India perhaps is the only market in the world where full-service and low-cost fares have become one.
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.
The new alliance will help the Tatas realise their long-cherished dream of flying abroad, while Singapore Airlines will get a foothold in the expanding Indian market
The inaugural flight took off in the presence of Minister of State for Civil Aviation, Mahesh Sharma, along with a number of other people.
Once pioneers in civil aviation, the Tata group is unlikely to get into the sector because of "destructive competition", its outgoing Chairman Ratan Tata said.
Its full-service plans with the Tata JV might counter modest profits and competition from all quarters.
Tata Sons has signed a memorandum of understanding with Singapore Airlines to establish a new airline in India.
The average age should be around 35 years, the sources said, adding those older should be shifted to ground operations.
The Indian government allowed foreign airlines to buy up to 49 per cent stakes in Indian carriers in September 2012.
Singapore Airlines will hold 49 per cent stake in the airline, while the rest will be held by the Tata group.
The airline will launch an additional daily flight on the Mumbai-Ahmedabad and Delhi-Ahmedabad routes during the period.
AirAsia India, which is using the training facilities of its parent airline AirAsia in Malaysia, plans to set up similar facilities in India in the coming years, airline sources said.
Phee Teik Yeoh, who has returned to the SIA HQ in Singapore worked hard to make Vistara the airline of choice. New CEO Leslie Thng would have the job of cutting losses while going international.
Both Vistara and AirAsia India, along with their partners, are quietly putting together an aggressive plan to become a formidable force in the skies. At the core of this new push is their plan to go international this financial year.
Tata-SIA joint venture carrier Vistara on Friday announced scaling up of operations and said it plans to operate 164 flights per week.
The new name would not have the Tata or the SIA name, confirmed a spokesperson.
It and Vistara both book slots here; former also likely to launch Mumbai flights from early 2015.
The industry is hoping the Tatas deepen their dive and offer two stable airlines -- a Vistara merged into Air India servicing the international routes, and an AirAsia India merged with Air India Express that competes with the low fare airlines in India and offers destinations within five hours, says Anjuli Bhargava.
Spicejet receives maximum complaints regarding refunds
The government has begun consultations on relaxing the eligibility criteria for allowing Indian carriers to fly abroad, Rajya Sabha was informed.
Vistara launched first flight from Hyderabad to New Delhi on Sunday.
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