BackWill be business as usual till merger with Air India: Vistara CEO
Singapore Airlines (SIA) and Tata Sons have agreed to merge Air India and Vistara, with SIA also investing ₹2,058.5 crore (US $250 million) in Air India as part of the transaction.
PremiumVistara CEO Vinod Kannan on Tuesday said it will be business as usual for all its stakeholders during the integration process, which will take some time.
"The integration process will take some time, and during this phase, it will be business as usual for all our stakeholders, including customers. We will continue to share relevant information with all of them, as appropriate," he said.
Earlier, a joint release noted that Singapore Airlines (SIA) and Tata Sons have agreed to merge Air India and Vistara, with SIA also investing ₹2,058.5 crore (US $250 million) in Air India as part of the transaction.
The Singaporean carrier said in a statement that it would emerge as a 25.1% owner of Air India, as part of a deal that would merge its Vistara joint venture with Tata Sons, into Air India.
Vistara is 51 per cent owned by Tata group and the remaining 49 per cent shareholding is with Singapore Airlines (SIA).
"There is enormous potential for an airline group with the scale and network of the combined entity. We look forward to providing more opportunities for our customers, employees, and partners while putting a spotlight on Indian aviation on the global stage," Kannan said.
He said that Vistara is a fine manifestation of its parent brands Tata Sons and Singapore Airlines, and "we are delighted that we will continue to be guided by their legacies as we merge with Air India."
Currently, the airline connects 43 domestic and overseas destinations and operates more than 260 flights daily with a fleet of 54 aircraft. It has around 4,700 employees.
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