New Singapore Airlines-Tata joint venture Vistara to take off in October
Singapore Airlines and Tata Sons Ltd. said on August 11 that they have named their new airline Vistara and plan to start flights in October.
The new full-service airline – which will compete with Jet Airways India and Air India Ltd. – should have up to five Airbus 320 single-aisle jets by December, Phee Teik Yeoh, chief executive of Tata SIA Airlines Ltd. said at a news conference.
He said the plan is to increase the fleet size to 20 planes in five years – which would include seven A320-200 planes and 13 A320neo jets.
“We believe that there is an immense potential in the aviation sector in India,” Yeoh said.
The name Vistara is derived from the Sanskrit word Vistaar, which means limitless expanse, the company said. Its logo is built around an eight-pointed star which the company said is a symbol of the unbounded universe.
Tata SIA Airlines is owned 51 per cent by Tata Sons, and the remainder by Singapore Airlines.
Tata has another new airline, AirAsia India Pvt., a joint venture of Malaysia’s AirAsia and India’s Telestra Tradeplace which started offering flights in June.
The entry of Vistara comes as most airlines in India are losing money because of rising fuel prices, high airport charges and intense competition that hasn’t allowed to them to increase fares.
Despite the current challenges, companies and analysts predict that Asia’s third-largest economy will grow to become one of the biggest aviation markets in the world by 2020.
“We are confident about the timing of the launch of this joint venture and it will stimulate demand,” said Mukund Rajan, member of the group executive council of Tata Sons, and director of Tata SIA.
Singapore Airlines and Tata Sons Ltd. said on August 11 that they have named their new airline Vistara and plan to start flights in October. The new full-service airline - which will compete with Jet Airways India and Air India Ltd. - should have up to five Airbus 320 single-aisle jets by December, Phee Teik Yeoh, chief executive of Tata SIA Airlines Ltd. said at a news conference. He said the plan is to increase the fleet size to 20 planes in five years - which would include seven A320-200 planes and 13 A320neo jets. "We believe that there is...
Singapore Airlines and Tata Sons Ltd. said on August 11 that they have named their new airline Vistara and plan to start flights in October.
The new full-service airline – which will compete with Jet Airways India and Air India Ltd. – should have up to five Airbus 320 single-aisle jets by December, Phee Teik Yeoh, chief executive of Tata SIA Airlines Ltd. said at a news conference.
He said the plan is to increase the fleet size to 20 planes in five years – which would include seven A320-200 planes and 13 A320neo jets.
“We believe that there is an immense potential in the aviation sector in India,” Yeoh said.
The name Vistara is derived from the Sanskrit word Vistaar, which means limitless expanse, the company said. Its logo is built around an eight-pointed star which the company said is a symbol of the unbounded universe.
Tata SIA Airlines is owned 51 per cent by Tata Sons, and the remainder by Singapore Airlines.
Tata has another new airline, AirAsia India Pvt., a joint venture of Malaysia’s AirAsia and India’s Telestra Tradeplace which started offering flights in June.
The entry of Vistara comes as most airlines in India are losing money because of rising fuel prices, high airport charges and intense competition that hasn’t allowed to them to increase fares.
Despite the current challenges, companies and analysts predict that Asia’s third-largest economy will grow to become one of the biggest aviation markets in the world by 2020.
“We are confident about the timing of the launch of this joint venture and it will stimulate demand,” said Mukund Rajan, member of the group executive council of Tata Sons, and director of Tata SIA.
