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AI-Vistara merger now a reality; SIA to invest Rs 3,195 cr in merged entity

Business Standard LogoBusiness Standard1w ago

AI-Vistara merger now a reality; SIA to invest Rs 3,195 cr in merged entity - Business Standard

Quick Summary:

Marking a significant consolidation in the fast-growing Indian aviation space, Air India on Tuesday completed the Vistara merger to create an integrated airline, partly owned by Singapore Airlines, that will be flying over 1,20,000 passengers daily and connect more than 90 destinations.

The two mergers have created a full service carrier and a low-cost carrier of scale for the Tata Group, which is seeking to establish a "world class global aviation company with an Indian heart".

Earlier in the day, the nearly 10-year-old Vistara -- a joint venture between Tatas and Singapore Airlines -- flew into the sunset and its last flight was from Delhi to Singapore.


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Article Details

Category: BusinessFinance

Markets:

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Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-12 @ 17:30:23 (1 weeks ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 943 words

Reading Time: 6 minutes read

Sentences: 36 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 23552863

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Main Topics: BusinessFinance

Official Website: business-standard.com

Update Frequency: 107 posts per day

Year Established: 1975

Headquarters: India

News Last Updated: 2 hours ago

Coverage Areas: India

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Publisher ID: #49

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