Tatas and Singapore Airlines have assured the government that control of their proposed airline venture would always remain in Indian hands, while seeking approval to offer passenger services on both domestic and international routes.
While media reports suggested that Tata-Singapore Airlines is looking at an all-stock merger of Jet, Tatas, in a statement said, discussions to take over Jet Airways have been preliminary and no proposal has been made
Singapore Airlines has given new brand names to two carriers it controls - SilkAir (short-haul) and Scoot (low-cost, long-haul.
Tata Group-owned Air India shaved off its losses by 60 per cent to Rs 4,444.10 crore in FY24 over the previous year, according to the Tata Sons annual report for 2023-24. The airline had reported a loss of Rs 11,387.96 crore in FY23, the annual report said.
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
AirAsia says deal not violative of shareholder agreement.
Singapore Airline along with its Indian JV partner have got clearance from the aviation ministry.
An airline's birth is a result of passion and enterprise, often not without its challenges and ordeals. And, Tata-run airlines are no exception
Besides the major metros, the proposed airline would also connect Srinagar, Patna, Chandigarh and Jammu.
Full-service airline Tata-SIA, submitted its application for the grant of Air Operator's Permit (AOP or flying license) in April.
With the launch of Tata AirAsia and Tata-SIA, the added capacity will bring down fares considerably, say observers.
"Financial bids for Air India disinvestment received by Transaction Adviser. Process now moves to concluding stage," DIPAM Secretary Tuhin Kanta Pandey tweeted.
Describing their situation akin to "bonded labour", two Air India pilot unions extended their support to Vistara pilots on Thursday, who have raised grievances regarding the duty roster and the revised salary structure. Amid the slew of flight cancellations and delays, Vistara chief executive officer Vinod Kannan acknowledged on Wednesday that pilot utilisation in the airline was high, and announced plans to scale back its flight schedule and overhaul the rostering system to provide pilots with more rest time.
Competition Commission of India (CCI) has issued a show cause notice to the parties with respect to the proposed merger of Tata Group airlines Vistara and Air India, according to a source. The fair trade watchdog issues notice asking why an investigation should not be initiated only after forming a prima-facie opinion that the deal could adversely impact competition in the marketplace. Vistara and Air India are the two full-service carriers that are part of the Tata Group, and Singapore Airlines holds a 49 per cent stake in Vistara.
Debt-ridden national carrier Air India tops a brand reputation survey.
The last date to submit bids is March 17 but the deadline could be extended if there are requests from potential bidders.
FIA has filed two separate petitions challenging the approvals granted to Tata-Airasia and Tata-SIA Airlines deals respectively.
Singapore government's sovereign wealth fund Temasek is looking to invest $10 billion in India during the next three years, Ravi Lambah, Temasek's head of India and strategic initiatives, said.
The price movement and trading volumes for few days prior to Mistry's ouster will also be looked into
Tatas-owned Air India plans to acquire no-frills carrier AirAsia India and has sought approval from the Competition Commission for the proposed deal. AirAsia India is majority-owned by Tata Sons Private Ltd with a shareholding of 83.67 per cent and the remaining stake is with AirAsia Investment Ltd (AAIL), which is part of Malaysia's AirAsia Group. Full service carrier Air India and its low-cost subsidiary Air India Express were acquired by Talace Private Limited, a wholly-owned subsidiary of Tata Sons Private Ltd, last year. Besides, Tatas operate full service airline Vistara in a joint venture with Singapore Airlines.
Tata Group's takeover of loss-making national carrier Air India is most likely delayed by a month till January as the completion of procedures taking longer than expected, an official said on Monday. In October, the government accepted the highest bid made by a Tata Sons company for 100 per cent equity shares of Air India and Air India Express along with its 50 per cent stake in ground-handling company AISATS -- the first privatisation in 20 years. At that time, the government had stated that it wanted to complete the transactions, which included Tatas paying Rs 2,700 crore in cash, by December end.
Singapore Airlines will hold 49 per cent stake in the airline, while the rest will be held by the Tata group.
J R D Tata's flight carrying mail between the two cities was the first by an Indian company and it opened the air link to peninsular India.
Full service carrier Vistara will continue to expand and expects to have a total of 70 planes by mid-2024, its chief Vinod Kannan said on Tuesday. The airline, a joint venture between Tata Sons and Singapore Airlines, reported an operating profit for the first time since inception in the three months ended December 2022. By the middle of next year, Kannan said it will have a total of 70 aircraft, including 7 Boeing 787s.
Tata Sons and Singapore Airlines (SIA), which recently received a no-objection certificate from the ministry of civil aviation to start a full-service airline (Tata-SIA Airlines), are in the process of securing an import licence for 20 Airbus A320 aircraft.
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.
The Tata Group-run Air India has banned smoking and consumption of intoxicating substances at the workplace and any employee violating this order will be "dealt with appropriate consequences", the airline's Chief Human Resources Officer (CHRO) Suresh Dutt Tripathi has stated. It was not clear what was the trigger for Wednesday's communique. Air India did not respond to PTI's request for statement on this matter.
Singapore Airlines first approached the Tatas, its old choice for a venture in India, and was aware of AirAsia negotiations.
Experts said the risks associated with the Indian Experts say that aviation sector would keep investors away from airline stocks.
The airline is also looking at cities in the northeast.
The $100 billion Tata group conglomerate is a major beneficiary of the decision to open up aviation in India.
It started commercial operations as a full service carrier on January 9.
A consortium of lenders led by State Bank of India (SBI) has agreed to provide loans to Tata Group for the smooth operations of loss-making Air India. Tata Group, which won the bid to acquire the national carrier along with Air India Express and 50 per cent stake in AISATS in October last year, is expected to formally takeover the airline on Thursday. Sources said the SBI-led consortium has agreed to grant both term loans and working capital loans depending on the airline's requirements. All large lenders, including Punjab National Bank, Bank of Baroda, and Union Bank of India, are part of the consortium, they added.
TCS has acquired Singapore Airlines' 51 per cent stake in Aviation Software Development Consultancy India Ltd for Rs 14.02 crore.
Salt-to-software conglomerate Tata group was among "multiple" entities who on Monday put in preliminary bids for buying the government's stake in loss-making carrier Air India.
The government is keeping its options open.
However, any progress on the deal depends upon Goyal giving up control of the company.
Earlier, the JV company got a go-ahead from the Foreign Investment Promotion Board in October 2013 and was awaiting AOP for launching a full-service carrier.
After more than two decades and three attempts, the government has finally sold its flagship national carrier Air India, and it is deja vu for Maharaja as it returned home to its founding father the Tata group. Jehangir Ratanji Dadabhoy (JRD) Tata founded the airline in 1932 and named it Tata Airlines. In 1946, the aviation division of Tata Sons was listed as Air India, and in 1948, the Air India International was launched with flights to Europe. The international service was among the first public-private partnerships in India, with the government holding 49 per cent, the Tatas keeping 25 per cent and the public owning the rest. In 1953, Air India was nationalised and for the next over four decades it remained the prized possession for India controlling the majority of the domestic airspace.
An exclusive excerpt from The Tatas: How A Family Built A Business And A Nation.
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