Tata Group: Tata’s Vistara will be merged with Maharaja, Air India will become international player – air india will let go of vistara brand after the merger says chief executive campbell wilson
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Wilson said in a virtual media interaction that the process of merger of Vistara with Air India is underway and it is awaiting approval from the Competition Commission of India (CCI). Along with this, the process of integration of Air India Express and AIX Connect is also going on. He said that Air India is very popular all over the world. It has a lot of potential and every effort is being made to make it a big player at the international level.
Where will the funds come from
Air India has recently placed an order for a record 470 aircraft. This deal with Boeing and Airbus has been done for $ 70 billion. The company will buy 250 aircraft from Airbus and 220 from Boeing. He also said that the funds for this deal would be arranged from multiple sources. These include internal cash flow, shareholder equity and sale and leaseback of aircraft. Wilson said that by the end of this year the new aircraft will start inducting into the Air India fleet. This will lead to a massive expansion in Air India’s network and capacity.
The deal also includes an option to buy 370 more aircraft. Regarding this, Wilson said that we do not have any timeline to use this option. A decision in this regard will be taken depending on the market situation. A few months ago, an embarrassing incident happened in an Air India flight. An inebriated passenger had urinated on an elderly lady passenger. Regarding this, Wilson said that the company has learned a lesson from this incident. He said, ‘Some things have not gone well. We have learned our lesson from this.
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