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Tata Sons, Singapore Airlines Pump In Rs 750 Crore Into COVID-19 Hit Premium Air Carrier Vistara
If Vistara introduced the B737s, it would follow Air India to have a mixed fleet of narrow-body Boeing and Airbus aircraft. (Image via @FlightLevel41000/Facebook)
In the fifth round of funding since April 2020, Tata Sons and Singapore Airlines are said to have pumped in Rs 750 crore into the premium air carrier Vistara, reports Economic Times.
Tata Sons, which owns 51 per cent in Vistara, has invested Rs 382.5 crore and Singapore Airlines Rs 367.5 crore, according to the filing, by issuing 75 crore shares.
The development gains significance as it comes at a time when Vistara, like its rivals, has been struggling in the midst of the COVID-19 pandemic which has battered the air travel demand in the country.
It should be noted that as per the estimates by CAPA-Centre for Aviation, Indian airlines are expected to lose $8.2 billion in FY21 and FY22 combined.
Meanwhile, Tata Sons is also in the fray to acquire the government's stake in the national carrier Air India. The group is said to be leading in the preliminary bidding rounds.
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