Tata Sons, Singapore Airlines invest ₹465 crore in Vistara
May 13, 2021
The funding has been made into Tata Sia Airlines Limited, the operating company of Vistara
Tata Sons and Singapore Airlines have invested ₹465 crore in their Indian joint venture airline Vistara.
According to financial data accessed by the business intelligence platform, Tofler, the investments have been made against 46.5 crore new shares in the airline. While Tata Sons has pumped in ₹237 crore for 23.7 crore shares, Singapore Airlines has invested ₹228 crore.
The funding has been made into Tata Sia Airlines Limited, the operating company of Vistara.
The fresh equity infusion comes at a time when the aviation industry is struggling to stay afloat due to the travel restrictions across the country. Additionally, according to India Ratings, 2021 has brought to the fore three new challenges to contend with — higher fuel expenses, rising competition and the flight for market share.