Vistara gets fund infusion from Tata Sons, Singapore Airlines

Tata Sons Ltd and Singapore Airlines Ltd announced the infusion of an additional SGD 84.7 million (INR 465 crore) into Vistara, according to reports.

However, during the last few weeks, the number of domestic air passengers per day has come down from the peak of more than 2.2 lakh to around 75,000 currently, according to the Indian civil aviation ministry's data.
However, during the last few weeks, the number of domestic air passengers per day has come down from the peak of more than 2.2 lakh to around 75,000 currently, according to the Indian civil aviation ministry's data. Photo courtesy: Vistara

The airline’s board approved the allotment of 465 million shares of INR 10 each to the two promoters, data from business intelligence unit Tofler showed.

The airline's promoters had slowed down on fund infusion in 2020 as international operations were shut for a large part of the year due to restrictions imposed by the governments to contain the spread of the deadly coronavirus. However, they are now looking at equity injection to expand international operations.

Vistara plans to expand its operation significantly by 2023, which is the primary reason behind the carrier’s aggressive capital infusion moves. The airline has already started flying to London and Tokyo this year and has filed for permission to fly to the US from September.

However, during the last few weeks, the number of domestic air passengers per day has come down from the peak of more than 2.2 lakh to around 75,000 currently, according to the Indian civil aviation ministry's data.

Similarly, international air traffic has also been affected by the second wave of the pandemic.