Tata Sons, Singapore Airlines to invest in Vistara

The owners of Vistara Airlines namely Tata Sons and Singapore Airlines have together invested 465 crore in the airline by issuing fresh shares into the airline, as per official documents collated by Tofler. Tata Sons which owns 51 per cent of Vistara, pumped in 237.15 crore, while Singapore Airlines which owns the remainder, put in 227.85 crore. This is the fourth capital infusion in Vistara since April this year, to shore up its finances as the airline, like its peers, is struggling for survival in the face of falling demand on account of the devastating COVID-19 pandemic. The Indian aviation industry is estimated to have lost $6 billion in the financial year that has just ended and may lose a similar amount in the current financial year, according to Sydney-based consultant CAPACentre for Aviation. Vistara’s promoters first put in 200 crore in April 2020 followed by 750 crore in July and then 585 crore in November. Tata Sons is also in the fray for investing in the national carrier Air India.