The DGCA had in October last year imposed a fine of Rs 70 lakh on Vistara Airlines for not operating the minimum number of flights as mandated in the under-served areas in the northeastern part of India. Vistara was fined by the airlines authority in April for non-compliance. “The airline paid the fine this month,” said an official.
According to reports, Vistara could not operate a single flight from Bagdogra, due to which the airline was fined.
Merger of Vistara and Air India Airlines
Singapore Airlines on Tuesday announced the merger of Vistara and Air India by March 2024. The Tata group holds a 51 per cent stake in Vistara, and the remaining 49 per cent is held by Singapore Airlines (SIA).
As part of the transaction, SIA will also invest Rs 2,058.5 crore in Air India. “This will give SIA a 25.1 per cent stake in an enlarged Air India group with a significant presence across all key market segments,” SIA said in a release. SIA and the Tatas aim to complete the merger by March 2024, subject to regulatory approvals. Is.”
Soon after the Tata Group announced the merger of Vistara and Air India, Vistara CEO Vinod Kannan on Tuesday said that it will be business as usual for all stakeholders during the integration process, which will take some time.
In a statement, Kannan said Vistara is a fine expression of its parent brands Tata Sons and Singapore Airlines, and “we are glad to continue to be guided by their legacy as we merge with Air India.”
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