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Indian full-service airline Vistara will merge into Tata-owned Air India on November 12. Singapore Airlines said on Friday that it has received the Indian government's nod for foreign direct investment as part of the Air  India-Vistara merger. Vistara is a joint venture between Air India and Singapore Airlines (SIA). After the merger, SIA will acquire a 25.1% stake in Air India. The proposed merger was announced in November 2022, and The National Company Law Tribunal (NCLT) approved it in June this year.

On August 10, both airlines secured the CAR (Civil Aviation Requirement) 145 approval from the Directorate General of Civil Aviation (DGCA) to integrate their aircraft line maintenance operations.

According to Tata SIA Airlines Ltd, the customers will not be able to make bookings with Vistara starting from September 3 onwards. "Starting 03 September 2024, customers will, progressively, no longer be able to make bookings with Vistara for travel on or after 12 November 2024," the company said.

However, Vistara will continue to take bookings and operate flights as usual till 11 November 2024. Air India will operate all Vistara aircraft. The bookings for the routes operated by these aircraft will be redirected to Air India's website.

Vinod Kannan, Chief Executive Officer of Vistara, said in an official statement, "We are immensely grateful to all our customers for their support and patronage over the last 10 years. As we progress further in our growth journey, we want to emphasize that this merger is about offering them more choice with a larger fleet and a wider network, while elevating the overall travel experience. Vistara and Air India are committed to ensuring that this transition is smooth and hassle-free. We are excited about this new phase in our journey and look forward to welcoming our customers again soon - as Air India."

"The joint team looks forward to offering our guests an expanded network, additional flight options, an enhanced frequent flyer program, and the best of both antecedent airlines," Campbell Wilson, Chief Executive Officer & Managing Director, of Air India, said.



Vistara bookings to stop from next week onwards, merger with Air India from 12 Nov

Low-cost airline SpiceJet has appointed Joyakesh Podder as the Deputy Chief Financial Officer after its CFO Ashish Kumar resigned to pursue "other opportunities". The airline appointed Podder as Dy CFO of the company with immediate effect on July 15, 2024.

Kumar resigned from the company in less than two years of his appointment.

SpiceJet told stock exchanges that Podder is a Chartered Accountant with over 30 years of experience in organizations such as Reliance, PwC, Go First, Mahindra, etc.


<a href="https://www.storyboard18.com/brand-makers/spicejets-shilpa-bhatia-and-arun-kashyap-resign-26162.htm">SpiceJet's Shilpa Bhatia and Arun Kashyap resign</a>

Podder joined the SpiceJet team to lead the finance department and support the company's strategic financial initiatives.

On Monday, the Gurugram-based airline reported a six-fold jump in its standalone net profit of Rs 119 crore for the Q4 FY2024. The debt-ridden airline reported a net profit of Rs 17 crore in the same period last year.  The total liabilities for the company at the end of the March quarter stood at Rs 11,690.7 crore.

<a href="https://www.storyboard18.com/quantum-brief/spicejets-turbulent-aviation-journey-explained-24596.htm">SpiceJet's turbulent aviation journey: Explained</a>

In January this year, SpiceJet received in-principle approval from BSE for a fund infusion of Rs 2,242 crore and raised Rs 1,060 crore under preferential issues in two tranches.

SpiceJet laid off about 1,500 employees (around 15% of its staff) for want of funds. The airline also reduced its fleet size by two-thirds. It expects to save about Rs 100 crore per year from these measures.

SpiceJet appoints Joyakesh Podder as Dy Chief Financial Officer as CFO Ashish Kumar resigns

The Tata Group has reportedly favoured retaining all the top managerial positions of Air India airline post-merger with Vistara.

According to a report by the Economic Times, the salt-to-steel conglomerate has supported the position of Campbell Wilson as chief executive of Air India, and Nipun Aggarwal and Sanjay Sharma as chief commercial and transformation officer and chief financial officer, respectively. 


The report added that Vistara CEO Vinod Kanan could return to his parent company, Singapore Airlines (SIA). Whereas, Deepak Rajawat, the chief commercial officer at Vistara, might be a part of the merged entity. 

<a href="https://www.storyboard18.com/quantum-brief/nclt-approves-air-india-vistara-merger-33584.htm">NCLT approves Air India - Vistara merger</a>

Storyboard18 could not independently verify the report.

In terms of employees, Air India is likely to absorb most of the Vistara employees but a few roles may become reductant as Air India has already filled up those roles, the ET report added.


<a href="https://www.storyboard18.com/brand-marketing/tata-group-owned-air-india-to-layoff-200-amidst-corporate-restructuring-26592.htm">Tata Group-owned Air India to layoff 200 amidst corporate restructuring</a>

Notably, a team of senior executives from both the airlines and Boston Consulting Group are working together on the integration of human resources. Law firm AZB Partners is dealing in legal and regulatory compliance. The non-flying staffers of Vistara would undergo the 'Hogan Test', designed by a US-based firm Hogan. The rest measures normal personality characteristics necessary for job fit, specifically for leadership roles. 

The Tata Group is ramping up to consolidate its airline business which posted a loss of Rs 15,532 crore in FY2023. Under the restructuring plan, Air India Express and AirAsia have been merged to form a no-frills airline. While Air India and Vistara merger will compete in the full-service segment. The integration between the two might be completed by the end of this year. 

However, CEO Campbell said that the customer-facing elements, including the brand identity of Visatara, would not change before 2025

Tata Group to retain all top positions of Air India post-merger with Vistara: Report

AVIATION