26
Saturday
May 2018
7:18 AM IST
News Headlines
No county action for injured Virat, fitness test on June 15        PNB fraud: ED files charge sheet against Nirav Modi, associates        Pakistan votes to bring tribal areas into political fold        US demands two Venezuelan diplomats leave within 48 hours: State Dept        Pak violates ceasefire along LoC        CBI officer probing Nirav Modi case repatriated to cadre        India, Netherlands decide to boost ties        'Tired' AB De Villiers retires from international cricket        Natco Pharma PAT for Q ending March 31 up by nearly 70 pc        Trump-Kim meeting set to take place on June 12: Pompeo        Corruption cases result of high treason case instituted against Musharraf: Sharif        Clashes in Gujarat town over Dalit man adding 'Sinh' to name        Rahul to hold rally on farmers' death anniversary in Mandsaur in June        HDK sworn in Karnataka CM at mega opposition show of unity        Anti-Sterlite protest: 11 killed in police firing in Thoothukudi        No charges for cancelling flight tickets within 24 hours of booking: Aviation Ministry proposal        Gowda says he is not opposed to Shivakumar being made minister        For the first time in 226, woman to lead the NYSE        Now, it's India vs Pakistan over Kishanganga project at World Bank        Afghanistan blast: 16 killed, 38 wounded in southern Kandahar province        
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Business News
Singapore Airlines invests over SGD 100 mn in Indian carrier Vistara
 
(Singapore, May 13, 2017): Singapore Airlines (SIA) has invested more than SGD 100 million in Indian carrier Vistara, twice the amount initially planned, a daily reported.

The airline is "encouraged" by Vistara's performance so far but an SIA spokesman declined to confirm funding details, citing commercial confidentiality, according to The Straits Times.

Profits are not expected until 2020 at the earliest but the New Delhi-based carrier, which has been flying domestically for more than two years, is growing nicely, the Singapore daily cited analysts as saying.

In June next year, the 49-per cent SIA owned Vistara will collect its 20th aircraft, a significant milestone which will pave the way for the airline to operate international flights.

Tata Group owns the rest 51 per cent stake in joint venture airline.

Under Indian civil aviation rules, Vistara must have at least 20 planes before it can fly outside the country.

The launch of international flights is a key part of SIA's strategy to expand its own reach and reduce the dominance of Middle Eastern carriers which have a strong hold on the growing India-Europe and India-United States markets.

When SIA and Tata first announced in 2013 the intention to launch Vistara, the plan was for a joint USD100 million investment.

The financing has since more than doubled on the back of high operating costs in India, stiff competition from other Indian carriers that has prompted steep fare cuts, and costs associated with plans to go international, reports out of India have suggested.

Industry think-tank Centre for Aviation, said in a recent report that Vistara is expected to order 100 planes - including 50 widebodies - before next month.

The airline currently has 13 aircrafts serving 45 domestic routes, a Vistara spokesman said.

No new plane order has been made, she said, adding that the airline is still evaluating its options.

Vistara has not ruled out leasing planes from SIA, she said.

While the aviation landscape in India is "very challenging and competitive", the opportunity is also "massive and there is a great potential for growth", The Straits Times quoted the spokesman as saying.

According to the International Air Transport Association, India has replaced Japan as the third-largest domestic aviation market in the world.

SIA has said repeatedly that it is in the Indian market to stay, despite the tough operating environment.

To create more value for consumers, SIA and its regional arm SilkAir recently struck a codeshare partnership with Vistara.

This means that an SIA customer can book a single ticket to fly from Singapore to New Delhi, and, from there, transfer to a Vistara flight to any of 10 domestic destinations.

The Vistara spokesman said such agreements "play a very important role for us in spreading greater awareness about our brand in international markets, and, for us, these partnerships are assets that we're building to support our international aspirations".(PTI)


PNB fraud: ED files charge sheet against Nirav Modi, associates
Natco Pharma PAT for Q ending March 31 up by nearly 70 pc
SBI Q4 loss at Rs 7,718 crore as NPA provisions jump
PNB fraud: ED attaches Nirav Modi’s properties worth Rs 171 cr
Sohan Roy features in Top 100 Indian Business Owners by Forbes Middle East
NITI welcomes $16 bn Walmart-Flipkart deal
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With Fuel Prices Hitting the Roof, Govt Asks Oil Companies Not to Increase Rates: Report
PM Modi flags off Indian Railways' first high speed electric locomotive in Bihar
Axis Bank stock rises 4% after Shikha Sharma's tenure shortened
It's for RBI to decide on Chanda Kochhar's term at ICICI Bank: Finmin
Crisis-hit Deutsche Bank pushes out British CEO
Highlights of RBI monetary policy
Honda India Recalls Activa 125cc, Grazia and Aviator Scooters
Ratnagiri refinery: Pradhan says open to offer majority stake to Aramco
Telcos' pre-tax losses widen to Rs 38,153 cr in 2016-17
India to be ready with 5G roadmap by June: Tel Secy
KERALA NEWS
Kerala among 13 states on thunderstorm alert
 (New Delhi, May 7, 2018): Thunderstorms accompanied by squall, hail and heavy rains are likel  
Kerala Karshaka Jadha Opens to a Great Beginning / Video
Malappuram press club attack: RSS workers nabbed
Workers injured in mudslide at construction site
INTERNATIONAL NEWS
Pakistan votes to bring tribal areas into political fold
 Islamabad, May 24 (AFP) Pakistan passed legislation today paving the way for its restive tribal area
US demands two Venezuelan diplomats leave within 48 hours: State Dept
Trump-Kim meeting set to take place on June 12: Pompeo
Corruption cases result of high treason case instituted against Musharraf: Sharif
NATIONAL NEWS
Pak violates ceasefire along LoC
 Srinagar, May 24 (PTI) Pakistani troops violated the ceasefire along the Line of Control (LoC) in Ur
CBI officer probing Nirav Modi case repatriated to cadre
Clashes in Gujarat town over Dalit man adding 'Sinh' to name
Rahul to hold rally on farmers' death anniversary in Mandsaur in June
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