Friday, May 14, 2021

Vistara gets Rs 465-crore fund infusion from Tata Sons, Singapore Airlines

Tata Sons Ltd, the holding company of Tata group, and Singapore Airlines Ltd - the two promoters of Vistara - have infused an additional Rs 465 crore into the airline, data accessed by the business intelligence platform, Tofler showed.

The airline’s board approved the allotment of 46.5 crore shares of Rs 10 each to the two promoters, data from Tofler, which was seen by Moneycontrol, 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 deadly coronavirus. However, they are now looking at equity injection to expand its 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 in the US to fly from September.

13/05/21 Varuuqhullah Khan/Moneycontrol

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