Air India-Vistara merger receives approval from Indian competition commission

Air India-Vistara merger receives approval from Indian competition commission

By Author

Published on November 12, 2023

Singapore Airlines has confirmed that the proposed merger between Air India and Vistara is still on track, pending approvals from regulators and competition authorities in various jurisdictions. This merger, which has already received approval from the Competition Commission of India, will position Singapore Airlines with a 25.1% stake in the enlarged Air India Group, allowing them to tap into India's growing aviation market.

Currently, Singapore Airlines holds a 49% shareholding in Vistara, while the Tata Group owns the remaining 51% stake. The merger is awaiting foreign direct investment approval, as well as clearance from regulators such as India's Directorate General of Civil Aviation, Ministry of Civil Aviation, National Company Law Tribunal, and the Competition and Consumer Commission of Singapore.

Once the merger is complete, Singapore Airlines will have a significant presence in all key Indian airline market segments and benefit from the rapid growth of India's civil aviation market. Air India, which was acquired by the Tata Group in January 2022, has been implementing an ambitious revival and expansion plan.

During the first half of the 2023-24 fiscal year, Singapore Airlines Group reported an impressive 55.4% increase in net profit to SGD 1,441 million, compared to USD 927 million in the same period the previous year. Total revenue also witnessed growth, rising 8.9% to SGD 9,162 million from SGD 8,417 million.

As of September 30, the airline group had a fleet of 202 aircraft, including both passenger aircraft and freighters. SIA's operating fleet consisted of 140 passenger aircraft and 7 freighters, while Scoot, its non-frill carrier, had 55 passenger aircraft. Additionally, the Group has 96 aircraft on order.

Singapore Airlines reported a continued robust demand for air travel, particularly in the Northern Summer travel season, with passenger traffic rebounding in North Asia after the reopening of China, Hong Kong SAR, Japan, and Taiwan. In the first six months of the current fiscal year, SIA and Scoot carried 17.4 million passengers, marking a remarkable 52.3% year-on-year increase.

Looking ahead, SIA plans to ramp up services across its network for the Northern Summer 2024 operating season, including the restoration of Airbus A380 services to Frankfurt, deploying widebody Airbus A350-900 medium-haul aircraft to Cairns and Male, and reinstating direct services between Singapore and Barcelona. Flight frequencies to several destinations will also be increased, aiming to exceed pre-pandemic levels.

However, the demand for air freight has remained soft due to inventory overhang and challenging geopolitical and macroeconomic conditions. Increased competition and softer demand have contributed to a 46.2% decrease in cargo yields compared to the previous year.

The Air India-Vistara merger is expected to strengthen both airlines' positions in the Indian aviation market, while Singapore Airlines seeks to benefit from the opportunities presented by India's growing air travel demand.


Red Dot Representations Steals the Show at BLTM 2024 in Delhi NCR

Red Dot Representations Steals the Show at BLTM 2024 in Delhi NCR

By Nishang Narayan

Published on September 5, 2024

Red Dot Representations, a trailblazer in the destination representation industry, has made a significant impact at the Business, Leisure Travel, and MICE (BLTM) event in Delhi NCR. Held from August 29 to 31, 2024, at Yashobhoomi (IICC) in Dwarka, New Delhi, BLTM has provided Red Dot Representations with the perfect platform to showcase its innovative approach to destination marketing and tourism representation.

Renowned for offering a comprehensive suite of services, including B2B sales, marketing, branding, public relations, and strategic collaborations with tourism bodies, Red Dot Representations continues to set industry benchmarks. At BLTM 2024, the company’s vibrant and engaging stalls have been a major attraction, drawing large crowds and generating buzz among key stakeholders and visitors. The eye-catching displays, interactive elements, and informative sessions at the Red Dot stalls have set them apart from the competition, solidifying their position as a leader in the field.

Among the many highlights was the presence of several esteemed clients of Red Dot Representations, including Al Habtoor Hotel - Dubai, Regency Holidays - Qatar, Wild Whisper - Kenya, Tria Uma - Bali, and Serendipity Collection - Sri Lanka and Indochina, Vietnam. These clients captivated the crowds with their unique offerings, further enhancing the appeal of the Red Dot stalls.

Prabhakar Kamat, Business Head of Red Dot Representations, expressed his excitement about the event, stating, "BLTM 2024 presents an extraordinary opportunity for us to connect with industry leaders and showcase our innovative approach to destination marketing. Our vibrant stalls and interactive sessions are designed to not only attract attention but also to foster meaningful relationships with key stakeholders. We are thrilled to be part of this dynamic event that truly captures the pulse of the travel and MICE industries."

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BLTM 2024 stands out as an exclusive B2B travel mart focused on Business + Leisure Travel and MICE, offering extensive opportunities for engagement between buyers and exhibitors. The event features over 500 exhibitors, 300 hosted buyers, and participants from more than 20 countries. With 12,000+ pre-scheduled meetings and 10,000+ qualified trade visitors, BLTM Delhi is poised to be a pivotal event for business, leisure travel, and MICE spending in India’s vibrant market.

This year, BLTM is distinguished by its comprehensive booth and pavilion-based format, moving away from traditional table-top shows and offering improved pricing and inclusion options. By hosting the event in Delhi—a prominent business hub in India—BLTM presents significant buyer potential, attracting hosted buyers from across major Indian cities, including the bustling Delhi National Capital Region (NCR).


Red Dot Representations Partners with Plan B Travel and Tourism, Jordan

Red Dot Representations Partners with Plan B Travel and Tourism, Jordan

By Nishang Narayan

Published on September 5, 2024

Red Dot Representations, a pioneer in destination representation, is proud to announce a strategic alliance with Plan B Travel and Tourism, a newly established, class "A" licensed travel agency based in Amman, Jordan. Known for delivering a comprehensive suite of business and leisure travel services, Plan B Travel and Tourism is dedicated to providing a full range of booking solutions tailored to meet every travel need with outstanding customer service and competitive pricing.

Renowned for its expertise in B2B sales, marketing, branding, public relations, and fostering valuable partnerships, Red Dot Representations continues to set benchmarks in the tourism sector. The collaboration with Plan B Travel and Tourism aims to promote economic growth and enhance cultural connections between India and Jordan, tapping into the rising popularity of Jordan as a destination for Indian travellers.

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In recent years, Jordan has witnessed a significant increase in visitors from India, driven by improved infrastructure and a diversified tourism landscape. The influx of Indian tourists reflects the broader global trend of growing interest in unique and adventurous travel experiences.

Prabhakar Kamat, Business Head at Red Dot Representations, expressed his enthusiasm for the collaboration, stating, "We are delighted to be partners with Plan B Tourism, Jordan. This collaboration will enable us to offer tailored travel experiences that resonate with Indian tourists who wish to explore the most exciting and adventurous country of Jordan."

Ms. Rana Abu Alhala, CEO of Plan B Travel and Tourism, added, "We are excited to join hands with Red Dot Representations. This partnership marks a significant milestone in our efforts to reach the Indian market. Our tailored packages are designed to cover every aspect of travel to Jordan, ensuring a memorable experience for every traveller. Our values—approachability, client-first priority, professionalism, and commitment—guide us in delivering exceptional service to all our guests."

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UNOX Opens Fourth Lounge in Chennai with Savvy Kitchen Partnership

UNOX Opens Fourth Lounge in Chennai with Savvy Kitchen Partnership

By Nithyakala Neelakandan

Published on September 4, 2024

UNOX, an Italian brand known for its high-performance commercial ovens, has opened its fourth UNOX Lounge in Chennai, India. This new lounge, created in partnership with Savvy Kitchen, offers an interactive space for potential customers to explore and experience UNOX’s range of professional ovens.

The Chennai lounge features various UNOX ovens, including convection, combi, and speed ovens. Visitors can participate in demonstrations led by UNOX chefs, providing a hands-on opportunity to understand the precision and versatility of the equipment.

Vikram Goel, Managing Director of UNOX India, expressed enthusiasm for the launch, emphasizing the company's commitment to delivering top-quality culinary solutions to the Chennai market. He highlighted the immersive experience the lounge offers, where chefs and culinary professionals can explore the advanced features of UNOX products.

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Matt Roberts, Director of Customer Experience at UNOX MEA, noted that the lounge is more than just a showcase; it allows chefs to experience the equipment before purchasing, ensuring they make informed decisions that enhance kitchen efficiency.

Ajith Prasad, Managing Director of Savvy Kitchen, emphasized the shared dedication to innovation and excellence in the culinary field, expressing excitement about providing customers with a platform to interact with advanced culinary technology.

The UNOX Lounge in Chennai aims to serve a wide range of clients, including upscale restaurants, luxury hotels, chic cafes, and catering businesses, establishing itself as a hub of culinary innovation in the region.

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