Tata-Singapore Airlines joint venture to be called Vistara
- Livemint" target="_blank">Livemint
- August 12, 2014
New Delhi: Tata-SIA Airlines Ltd, the joint venture (JV) between Tata Sons Ltd and Singapore Airlines Ltd, will be called Vistara, the airline announced on Monday.
Sanskrit word vistar means “limitless expanse”. The logo is derived from a symbol which signifies seamless balance of the universe, Phee Teik Yeoh, CEO, Vistara said.
The Tata group and SIA are making their third attempt to start operations in India in a JV, having been thwarted twice in the past by political and corporate intrigue.
Air India Ltd was started by J.R.D. Tata in 1932 as Tata Airlines, which was renamed Air India and then nationalized in 1953. Air India helped SIA in its early years.
In the new start-up entailing an initial investment of $100 million, Tata Sons, the holding company of the $109 billion Tata group, has a 51% stake and Singapore Airlines the remainder.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
Partners
