+
Singapore Airlines and Tata Sons invest Rs 750 cr in Vistara
AVIATION & AIRPORTS

Singapore Airlines and Tata Sons invest Rs 750 cr in Vistara

Singapore Airlines and Tata Sons, owners of premium airliner Vistara, have invested Rs 750 crore into it, according to the data from Tofler.

As per the filing, by issuing 75 crore shares, Singapore Airlines and Tata Sons invested Rs 367.5 crore Rs 382.5 crore, respectively.

It is the fifth round of investing by Vistara owners into the airline since April 2020 since it struggles like its rivals amid the Covid-19 pandemic that has hit air travel demand and financials of airline firms. India's airlines are likely to lose $8.2 billion in FY21 and FY22 combined, as per the estimates by CAPA-Centre for Aviation.

Vistara recorded a net loss of Rs 1,813 crore in FY20. Its losses have grown in the last few years from Rs 400 crore in FY16. It commenced operations on January 9, 2015.

In May, Tata Sons that holds 51% of Vistara, invested Rs 237.15 crore, while Singapore Airlines that owns the remainder, invested Rs 227.85 crore.

Tata Sons and Singapore Airlines pumped in Rs 200 crore in April 2020, Rs 750 crore in July and Rs 585 crore in November.

The repeated rounds of investment display Tata Sons serious plans for the aviation sector even as it is one of the worst-hit in the pandemic. The conglomerate is also in the fray for funding in the national carrier Air India. It is reportedly in the lead in the preliminary bidding rounds. The government intends to complete the process of Air India’s divestment by the year-end.

Vistara has a fleet of 48 aircraft, comprising 37 Airbus A320, three Airbus A321neo, six Boeing 737-800NG, and two Boeing 787-9 Dreamliner aircraft, and has flown over 25 million customers since commencing operations.

Image Source


Also read: Govt to invest Rs 25k cr to develop civil aviation sector

Singapore Airlines and Tata Sons, owners of premium airliner Vistara, have invested Rs 750 crore into it, according to the data from Tofler. As per the filing, by issuing 75 crore shares, Singapore Airlines and Tata Sons invested Rs 367.5 crore Rs 382.5 crore, respectively. It is the fifth round of investing by Vistara owners into the airline since April 2020 since it struggles like its rivals amid the Covid-19 pandemic that has hit air travel demand and financials of airline firms. India's airlines are likely to lose $8.2 billion in FY21 and FY22 combined, as per the estimates by CAPA-Centre for Aviation. Vistara recorded a net loss of Rs 1,813 crore in FY20. Its losses have grown in the last few years from Rs 400 crore in FY16. It commenced operations on January 9, 2015. In May, Tata Sons that holds 51% of Vistara, invested Rs 237.15 crore, while Singapore Airlines that owns the remainder, invested Rs 227.85 crore. Tata Sons and Singapore Airlines pumped in Rs 200 crore in April 2020, Rs 750 crore in July and Rs 585 crore in November. The repeated rounds of investment display Tata Sons serious plans for the aviation sector even as it is one of the worst-hit in the pandemic. The conglomerate is also in the fray for funding in the national carrier Air India. It is reportedly in the lead in the preliminary bidding rounds. The government intends to complete the process of Air India’s divestment by the year-end. Vistara has a fleet of 48 aircraft, comprising 37 Airbus A320, three Airbus A321neo, six Boeing 737-800NG, and two Boeing 787-9 Dreamliner aircraft, and has flown over 25 million customers since commencing operations. Image Source Also read: Govt to invest Rs 25k cr to develop civil aviation sector

Next Story
Technology

Six ways a smarter workflow leads to faster, more accurate bids

In today’s fast-paced civil construction environment, estimators need more than just solid numbers. They need smart, streamlined processes. This article explores six key ways connected workflows can transform the estimated approach, help in minimising risk, move faster, and improve accuracy. By integrating tools, data, and teams, one can produce stronger bids with less rework, fewer surprises, and more confidence. As an estimator, the job goes beyond producing numbers. They are responsible for delivering bids that are fast, accurate, and built to win. In today’s civil construction ind..

Next Story
Real Estate

Experion Launches Women-Only Co-Living Project in Greater Noida

Experion, part of Singapore-based AT Capital Group, has launched its first co-living space under its managed rental housing brand, VLIV, in Greater Noida. The all-women residence features 730 twin-sharing beds with a strong focus on safety, comfort, and well-being. VLIV has committed a $300 million investment to create a structured, service-led rental housing ecosystem in India. The brand aims to scale up to 20,000 beds in the next few years, with a long-term target of 100,000 beds nationwide. “India’s rental housing is fragmented. VLIV is our way of building long-term, dependabl..

Next Story
Infrastructure Urban

Officine Maccaferri Acquires CPT to Bolster Tunnelling Tech

Ambienta’s platform company, Officine Maccaferri S.p.A., has acquired CPT Group, a leading Italian developer of robotic prefabrication systems and digital control technologies for mechanised tunnelling. The move positions Maccaferri as a global player in integrated tunnelling solutions, blending traditional and advanced mechanised systems. Based in Nova Milanese, CPT serves major global contractors across Europe, Southeast Asia, and Australia. The company offers robotic prefabrication (Robofactory), productivity-monitoring software for Tunnel Boring Machines (TBMs), and eco-designed spa..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?