Vistara’s merger with Air India is on track and the airline expects to receive all regulatory approvals by April 2024, Chief Executive Officer Vinod Kannan said on Monday.
Last November, Tata Sons and Singapore Airlines announced the merger of Vistara with Air India to drive synergies and grab market share in a fast-growing domestic market. The transaction is under the scrutiny of Competition Commission of India which has issued a show cause notice to the parties.
“Whether it is CCI, National Company Law Tribunal and other regulatory approvals, we are on track,” Kannan said.
“We have not paused on growth and we continue to add aircraft and destinations,” he said. Plans are afoot to launch flights to Bali in Indonesia and add frequencies to Europe from Mumbai. “Long haul routes are consistently doing well for us,” he added.
The airline recorded its first-ever operating profit in the third quarter of the last financial year. “The second half of last financial year has been good and the first quarter has been promising too. We are sufficiently funded and there is no need for capital injection,” he said.
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