Mumbai: Tata Sons and Singapore Airlines (SIA) have invested Rs 500 crore in their joint venture airline Vistara. This is part of the Rs 600-crore funding commitment the partners had announced in 2013.
The latest round of funding (of Rs 200 crore) and fresh allotment of shares to the promoters took place in August. In the same month, the airline also appointed Som Mittal, former president of Nasscom, and Sangeeta Pendurkar, managing director of Kellog India, as independent directors on the board.
The airline now has a five-member board led by Chairperson Prasad Menon, former managing director of Tata Chemicals. An airline spokesperson confirmed the developments and said SIA Chief Executive Goh Choon Phong and Tata Sons Chairman Cyrus Mistry had met in Mumbai last month. “It was a regular courtesy meeting between the two,” the spokesperson said.
06/09/15 Aneesh Phadnis/Business Standard
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The latest round of funding (of Rs 200 crore) and fresh allotment of shares to the promoters took place in August. In the same month, the airline also appointed Som Mittal, former president of Nasscom, and Sangeeta Pendurkar, managing director of Kellog India, as independent directors on the board.
The airline now has a five-member board led by Chairperson Prasad Menon, former managing director of Tata Chemicals. An airline spokesperson confirmed the developments and said SIA Chief Executive Goh Choon Phong and Tata Sons Chairman Cyrus Mistry had met in Mumbai last month. “It was a regular courtesy meeting between the two,” the spokesperson said.
06/09/15 Aneesh Phadnis/Business Standard
