Despite plane crash and losses, Tata's Air India get Rs 95580000000 investment from…, will utilize for…
The airline, being piloted by Tatas since January 2022, has embarked on an ambitious five-year transformation plan. In November 2024, Vistara — a joint venture between Tatas and Singapore Airlines — was merged with Air India, following which the Singaporean carrier acquired a 25.1 per cent stake in Air India. Air India On Investment
In response to queries about fundraising, an Air India spokesperson told PTI on Wednesday that its shareholders have together infused fresh capital of more than Rs 9,500 crore in 2024-25 to meet the airline's capital expenditure requirements.
Tata Sons invested Rs 3,224.82 crore, and Singapore Airlines put in Rs 6,333.18 crore in Air India, taking the total fund infusion to Rs 9,558 crore in the financial year ended March 2025.
'Pursuant to the merger of Vistara with Air India in November 2024, the shareholders have together infused fresh capital of over Rs 9,500 crore in the fiscal year 2024-25. The said infusion is to meet the company's requirement towards capital expenditure, working capital and growth initiatives,' the Air India spokesperson said in a statement to PTI. Tata Sons Investment In Air India
In March this year, Tata Sons pumped in Rs 3,224.82 crore, and Singapore Airlines invested Rs 1,080.68 crore in Air India, according to regulatory filings accessed by business intelligence platform Tofler.
Through the preferential allotment route, Tata Sons was issued little over 523 crore equity shares and Singapore Airlines was allotted little more than 175 crore equity shares at a price of Rs 6.1632 apiece, the filings showed.
The equity shares, having a face value of Rs 4 apiece, were issued with a premium of Rs 2.1632 per equity share. They were allotted on March 20.
For the nine months ended December 31, 2024, Air India Group's loss before exceptional items stood at Rs 8,033.1 crore while revenues were Rs 56,366.8 crore, as per the provisional figures mentioned in the filings.
Currently, Air India is grappling with the fallout of the fatal crash of its London Gatwick-bound Boeing 787-8 aircraft soon after take-off from Ahmedabad on June 12. In the accident where the aircraft crashed into a medical hostel complex in Ahmedabad, 270 people died, including 241 who were onboard. One passenger survived.
(With Inputs From PTI)
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