Monday, April 15, 2019

As Jet Airways struggles, Vistara to stay on course to develop network: Report

Vistara will continue expanding operations and stick to its long-term growth strategies, Chairman Bhaskar Bhat said.

"Tata SIA (which operates Vistara) while taking into account the situation will stay on course of developing its network both in India and abroad," Bhat told The Economic Times.

Bhat's statement comes at a time when its competitor Jet Airways is struggling to find bidders and continue operations.

Bhat did not comment on Tata Group’s official stance on a bid for cash-strapped Jet Airways.
"Vistara continues to work with airport operators and the Department of Civil Aviation to secure more slots, specially in challenged locations like Mumbai and Delhi, even as it steadily acquires aircraft to expand network," Bhat told the paper.
Vistara is a joint venture between Tata Sons, which owns 51 percent of the airline, and Singapore airlines, which has a 49-percent stake.
In November 2018, Tata Sons mulled a proposal for Jet Airways but had concerns about the airline’s reputational risks.
Ratan Tata has so far not replied to a request for comment by The Economic Times.
The Tatas are likely to express interest in Jet Airways only if it goes through insolvency proceedings, a source told the paper.
In the proposal they earlier considered, the Tatas wanted to merge Vistara and Jet Airways.
According to Bhat, Vistara does not plan to become a premier airline but remain a full-service airline known for standards and safety.
15/04/19 Moneycontrol.com

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