‘Vistara’ is the brand name of the Tata-Singapore Airlines alliance, which is unveiled on today. Describing the name, the company tweeted, . “Vistara is inspired by ‘Vistaar’, a Sanskrit word that defines the world of limitless expanse”.
‘Vistara’ may take off in October this year subject to approvals from the aviation regulator DGCA (Directorate General of Civil Aviation), as per the reports of PTI.
Prasad Menon, Chairman, Tata Singapore Airlines Ltd said, “It’s a momentous day in the history of Indian aviation. Vistara will redefine the way people travel in India”.
Tata Group holds 51 per cent stake while Singapore Airlines holds 49 per cent in this joint venture. The company plans to fly 87 flights a week during its first year and nearly double that number during its second year of operation. The company has a plan to begin with flying in domestic circuits initially, which shall be expanded to international full-service flights later.
This is the third FDI marked in India after last year’s decision of the government to open the doors for foreign investment in aviation up to 49%. This is a $100 million company.
Tata Group has already started its joint venture tying with a Malaysia based company under the brand name of AirAsia.