Vistara, India's full-service airline, has secured more money from its promoters. This is the latest in a series of monetary infusions, and it comes ahead of the summer schedule. The airline is also growing, with more personnel being hired, more planes being added, and its network being expanded. All of these efforts are likely to be aided by the additional funds in the pot.
Vistara's promoters have injected another 500 crore (about $65 million) into the airline, according to a document with the Ministry of Corporate Affairs seen by The Indian Express. Tata Sons, an Indian corporation, and Singapore Airlines have a 51:49 ownership structure in Vistara.
The amount invested also correlates to the airline's ownership stake, with Tata Sons providing 255 crore (about $33.3 million) and Singapore Airlines contributing 245 crore (approximately $32 million).
The investment comes less than a month after the Tatas paid the government hundreds of millions of dollars up front to acquire Air India and assumed billions of dollars in debt. Air India, Air India Express, Vistara, and AirAsia India are the four airlines owned by the Indian corporation.
Vistara began operating in 2015, seven years after it was founded in 2013. Tata Sons and Singapore Airlines have provided significant financial support to the airline from its founding.
It has received multiple rounds of investment from its owners in the previous several years, including a 750 crore (about $1 billion) round in August of last year. This was in addition to the 465 crore (about $61 million) it got a few months prior in May 2021.
The cash-infusion method has aided the carrier's survival during the epidemic. While Vistara's total company has deteriorated in recent years, it has been able to expand its international offering by adding longer routes in Europe and Asia.
