Tata Sons, Singapore Airlines invest Rs 465 crore in Vistara

Vistara's owners Tata Sons and Singapore Airlines have together invested Rs 465 crore in the airline by issuing fresh shares into the airline, showed official documents collated by Tofler.Tata Sons which owns 51% of Vistara pumped in Rs 237.15 crore, while Singapore Airlines which owns the remainder put in Rs 227.85 crore.

This is the fourth capital infusion in Vistara since April, to shore up its finances as the airline, like its peers, struggles against falling demand in the devastating Covid19 pandemic. The Indian aviation industry is estimated to have lost $6 billion in the just ended financial year and may lose a similar amount in the current FY, according to Sydney-based consultant CAPA-Centre for Aviation.

Vistara's promoters first put in Rs 200 crore in April 2020, Rs 750 crore in July and then Rs 585 crore in November.
Tata Sons is also in the fray for investing in national carrier Air India.

(Inputs from Writankar Mukherjee)