Major Capital Injection Bolsters Air India's Transformation Amidst Tragedy
Tata Sons and Singapore Airlines invested a total of Rs 9,558 crore in Air India in their ongoing effort to transform the airline, following Vistara's merger. The capital infusion aims to support operational and growth needs, even as Air India addresses the fallout of a tragic aircraft accident.
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In a significant financial move, Tata Sons and Singapore Airlines have infused Rs 9,558 crore into Air India for the 2024-25 financial year. This investment comes alongside a strategic merger with Vistara, consolidating Air India's position in the aviation market. While the capital is intended for the airline's capital and operational growth, it also highlights the company's ambitious five-year transformation plan.
The stakeholders, comprising Tata Sons and Singapore Airlines, have together provided this infusion to meet capital expenditure requirements, as confirmed by an Air India spokesperson. Specifically, Tata Sons invested Rs 3,224.82 crore, and Singapore Airlines added Rs 6,333.18 crore, reflecting their commitment to revitalizing the loss-making carrier.
Despite these substantial developments, Air India is faced with the aftermath of a tragic incident involving its Boeing 787-8 aircraft, which fatally crashed near Ahmedabad. As the airline navigates the consequences of this unfortunate event, the fresh capital aims to spearhead its recovery and growth trajectory.
(With inputs from agencies.)
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