Vistara has received ₹20 billion capital infusion from Tata Sons and Singapore Airlines. This funding will help the full-service carrier in boosting its expansion plans that include flying overseas.
Earlier this month, the Vistara board approved the allotment of shares – a little over 101.99 crore shares to Tata Sons and 98 crore shares to Singapore Airlines. Currently, Tata Sons has 51 per cent stake and the remaining 49 per cent is owned by Singapore Airlines in Vistara.
Apart from contributing towards Vistara’s expansion plans, this capital infusion will also help the airline in financing its $3.1 billion (₹220 billion) aircraft order which consists of buying 19 Airbus and Boeing planes. Additionally, while making the announcement about aircraft purchases in July this year, the Tata SIA airline also announced that it will be leasing 37 new A320 neo family planes.
At present, Vistara operates around 120 flights every day and flies to 22 destinations. airvistara.com