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Singapore Airlines to inject further SGD 360 million (USD 267 million) into Air India. It will give SIA a 25.1% stake in the group following its takeover by Tata and merger with Vistara Airlines. Through this transaction, SIA will reinforce its partnership with Tata and immediately acquire a strategic stake in an entity that is four to five times larger in scale compared to Vistara, the airline said.
Singapore Airlines to inject further SGD 360 million (USD 267 million) into Air India. It will give SIA a 25.1% stake in the group following its takeover by Tata and merger with Vistara Airlines. Through this transaction, SIA will reinforce its partnership with Tata and immediately acquire a strategic stake in an entity that is four to five times larger in scale compared to Vistara, the airline said.
Last year, Tata and Singapore Airlines both agreed to inject fresh capital if needed to help lift Air India back to the highs of decades gone by when the airline had a glitzier sheen.
Last year, Tata and Singapore Airlines both agreed to inject fresh capital if needed to help lift Air India back to the highs of decades gone by when the airline had a glitzier sheen.
Singapore Airlines will own a quarter of an entity that will have 218 aircraft once the brands are combined, and have access to lucrative landing and parking slots around the world, according to the Bloomberg news agency.
Singapore Airlines will own a quarter of an entity that will have 218 aircraft once the brands are combined, and have access to lucrative landing and parking slots around the world, according to the Bloomberg news agency.
The airline had said that the new entity will be four to five times larger than Vistara and help strengthen its multi-hub strategy. Vistara, a full-service carrier, operates flights to 12 international destinations, including London, Frankfurt, Paris, Abu Dhabi, and Dubai.
The airline had said that the new entity will be four to five times larger than Vistara and help strengthen its multi-hub strategy. Vistara, a full-service carrier, operates flights to 12 international destinations, including London, Frankfurt, Paris, Abu Dhabi, and Dubai.
Tata and Singapore Airlines have a long history, including an ambitious project in 1994 to start an airline with 100 planes, but the government refused to allow a foreign entrant and the idea was abandoned. The two teamed up again in 2000 to bid for a stake in Air India when the government sought to sell shares in the carrier. That plan was later dropped because of political opposition.
Tata and Singapore Airlines have a long history, including an ambitious project in 1994 to start an airline with 100 planes, but the government refused to allow a foreign entrant and the idea was abandoned. The two teamed up again in 2000 to bid for a stake in Air India when the government sought to sell shares in the carrier. That plan was later dropped because of political opposition.
According to the ANI news agency, the November 2022 deal between Singapore Airlines and Tata Sons to further inject $267 million into Air India is one of the key strategic initiatives for future growth mentioned in the quarterly financial report.
According to the ANI news agency, the November 2022 deal between Singapore Airlines and Tata Sons to further inject $267 million into Air India is one of the key strategic initiatives for future growth mentioned in the quarterly financial report.
According to the SIA statement, the merged entity will be four to five times larger in scale compared to Vistara, with a strong presence in all key airline segments in India.
According to the SIA statement, the merged entity will be four to five times larger in scale compared to Vistara, with a strong presence in all key airline segments in India.
“The proposed merger will bolster SIA’s presence in India, strengthen its multi-hub strategy, and allow it to continue participating directly in this large and fast-growing aviation market,” the airline said.
“The proposed merger will bolster SIA’s presence in India, strengthen its multi-hub strategy, and allow it to continue participating directly in this large and fast-growing aviation market,” the airline said.
Singapore Airlines Ltd (SIA) reported an over seven-fold jump in third-quarter net profit last week. The airline’s net profit jumped to S$628 million ($469 million) for the three months ended 31 December from S$85 million a year ago.
Singapore Airlines Ltd (SIA) reported an over seven-fold jump in third-quarter net profit last week. The airline’s net profit jumped to S$628 million ($469 million) for the three months ended 31 December from S$85 million a year ago.
Overall, SIA’s revenue for the three months to December rose SGD 358 million ($265 million), an 8% quarter-on-quarter increase to SGD 4,846 million ($3,589 million), a record.
Overall, SIA’s revenue for the three months to December rose SGD 358 million ($265 million), an 8% quarter-on-quarter increase to SGD 4,846 million ($3,589 million), a record.
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