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The airline -- which has more than 5,000 employees and operates close to 8,500 flights per month -- had a domestic market share of 9.2 per cent in December 2022

Vistara turns profitable for first time in December 2022 quarter

Vistara turns profitable for first time in December

Vistara, which has more than 5,000 employees and operates close to 8,500 flights per month, had a domestic market share of 9.2 per cent in December 2022

Full service carrier Vistara on Monday said it reported a profit for the first time since inception in the three months ended December 2022.
Without disclosing the exact profit figure in the December quarter, the airline said it crossed the USD 1 billion revenue mark and remained EBITDA positive in the current fiscal year.
EBITDA refers to Earnings Before Interest, Taxes, Depreciation and Amortisation.
"For the first time since inception, the airline reported a net profit (excluding unrealised foreign currency loss and non-operating income) for the quarter ended December 2022," it said in a release.
A joint venture between Tata Sons and Singapore Airlines, the airline started operations on January 9, 2015, and currently has a fleet of 52 planes.
Vistara CEO Vinod Kannan said with significant network and fleet expansion and sustained growth over the last few months, 2022 has been a phenomenal year for Vistara in terms of operational and financial performance.
"Each member of the Vistara family is incredibly proud of our collective achievements in an extremely challenging business environment that included the third wave of pandemic and escalating costs. We are now aiming for higher goals as we enter the next phase of our growth journey," he said.
The airline -- which has more than 5,000 employees and operates close to 8,500 flights per month -- had a domestic market share of 9.2 per cent in December 2022.
In November last year, Singapore Airlines said Vistara will be merged with Tata group-owned Air India.

Tata Sons to bring all its airlines together under Air India

With regards to making all this official, the report adds that an announcement is expected within a week

In a major move to make Air India the second largest airline in the country, Tata Sons have reportedly started the process to bring all its airlines under one umbrella of Air India.&nbsp;&nbsp;
With this consolidation process, all its airline entities &ndash; Vistara, AirAsia India and Air India Express will reportedly come under Air India.&nbsp;
According to a report in the Economic Times, Tata Sons has started this process after holding several rounds of discussions with Singapore Airlines (SIA). If the process gets executed as planned, Air India could become the second largest airline in the country, especially in terms of fleet and market share, as per the report.&nbsp;
Tata Sons will have a low-cost carrier and a full-service airline under Air India post this merger, which may take more than a year to start properly functioning under the umbrella firm.&nbsp;
The Tatas took over Air India and Air India Express in January. In October 2021, Tatas emerged as the winning bidder for loss-making Air India. It offered a bid of Rs 18,000 crore, comprising a cash payment of Rs 2,700 crore and taking over the carrier's debt worth Rs 15,300 crore.

Ilker Ayci, the former Turkish Airlines chairman, whose departure even before arrival to the role of the chief executive of Tata’s Air India is been in news. 
Tata Sons, who acquired Air India from the government earlier this year, had appointed Ilker Ayci as the CEO and MD of Air India on February 14. But the airline’s newly appointed chief executive turned down the role before even taking charge. Reason why Ilker Ayci turned down his position 
His appointment was opposed by the Rashtriya Swayamsevak Sangh’s (RSS) affiliate Swadeshi Jagaran Manch and and said the job should go to a person of Indian origin. 
Ayci said in a statement that he had read attempts “to colour my appointment with undesirable colours” in some sections of the Indian media. I have come to the conclusion that it would not be a feasible or an honourable decision to accept the position in the shadow of such narrative,” he added. 
He was due to take over on or before April 1 this year. 
 
Ayci was an advisor of Turkish President Recep Tayyip Erdogan, when the latter was mayor of Istanbul, from 1994 to 1998. He also served the Turkish Airlines as its chairman from 2015 to 2022 and was credited with turning the airline around.

Trouble before take off, Why did Ilker Ayci turn down Air India?

Ilker Ayci, the former Turkish Airlines chairman, whose departure even before arrival to the role of the chief executive of Tata’s Air India is been in news

Here's the reason why:

Trouble before take off, Why did Ilker Ayci turn down Air India

RSS affiliate Swadeshi Jagaran Manch opposed the appointment and said the job should go to a person of Indian origin.&nbsp;

Ilker Ayci, the former Turkish Airlines chairman, who has chosen the&nbsp;departure gate even before the take off of his role as CEO&nbsp;of Air&nbsp;India.&nbsp;
Ayci said in a statement that he had read attempts &ldquo;to colour my appointment with undesirable colours&rdquo; in some sections of the Indian media.&nbsp;I have come to the conclusion that it would not be a feasible or an honourable decision to accept the position in the shadow of such narrative,&rdquo; he added.&nbsp;
Also Watch|&nbsp;<a title="Expect daily petrol, diesel price hikes come March 7, this is how much fuel prices could surge" href="https://www.editorji.com/business-news/personal-finance/expect-daily-petrol-diesel-price-hikes-come-march-7-this-is-how-much-fuel-prices-could-surge-1646201501837">Expect daily petrol, diesel price hikes come March 7, this is how much fuel prices could surge</a>
Ayci's appointment was opposed by the Rashtriya Swayamsevak Sangh&rsquo;s&nbsp;(RSS) affiliate Swadeshi Jagaran Manch&nbsp;and&nbsp;and said the job should go to a person of Indian origin.&nbsp;
He was due to take over on or before April 1 this year.&nbsp;
Ayci was an advisor of Turkish President Recep Tayyip Erdogan, when the latter was mayor of Istanbul, from 1994 to 1998. He also served the Turkish Airlines as its chairman from 2015 to 2022 and was credited with turning the airline around.&nbsp;

After nearly seven decades, Air India returns to the hangar of it's original pilot - The Tata Group. The airline was founded by J.R.D. as Tata Airlines in 1932, with a capital of Rs 2 lakh given by a reluctant Sir Dorabji Tata, the then chairman of Tata Sons. The initial service offered a weekly airmail service between Karachi and Madras via Ahmedabad and Bombay.
In 1946, the aviation division of Tata Sons was listed as Air India and in 1948, Air India International was launched with flights to Europe.
Post-independence in 1948, the Indian government bought a 49 percent stake in the airline to finally acquire the airline from J.R.D. Tata in 1953.
J.R.D however continued to be at the helm for Air India till 1977 accepting only Re 1 a year as salary.
And as the current Chairman (Emeritus) of the salt-to-software conglomerate Ratan Tata had tweeted when Tata Group won the bid, It would have overjoyed the original pilot of the airline, JRD Tata to know that Air India is back home.

The Maharaja returns home; Tata's takeover Air India today

The airline was founded by J.R.D. as Tata Airlines in 1932, with a capital of Rs 2 lakh given by a reluctant Sir Dorabji Tata, the then chairman of Tata Sons. The initial service offered a weekly airmail service between Karachi and Madras via Ahmedabad and Bombay.

As a part of the deal, the Tata group will also be handed over Air India Express and a 50 percent stake in ground handling arm Air India SATS.

After nearly seven decades, Air India returns to the hangar of it's original pilot - The Tata&nbsp;Group.&nbsp; The airline was founded by J.R.D. as Tata Airlines in 1932, with a capital of Rs 2 lakh given by a reluctant Sir Dorabji Tata, the then chairman of Tata Sons. The initial service offered a weekly airmail service between Karachi and Madras via Ahmedabad and Bombay. Also watch|&nbsp;<a title="Fortune oil parent Adani Wilmar's IPO opens today; should you subscribe?" href="https://www.editorji.com/business-news/fortune-oil-parent-adani-wilmar-s-ipo-opens-today-should-you-subscribe-1643253394097">Fortune oil parent Adani Wilmar's IPO opens today; should you subscribe?</a>
In 1946, the aviation division of Tata Sons was listed as Air India and in 1948, Air India International was launched with flights to Europe.
Post-independence in 1948, the Indian government bought a 49 percent stake in the airline to finally acquire the airline from J.R.D. Tata in 1953.
J.R.D however continued to be at the helm for Air India till 1977 accepting only Re 1 a year as salary.
And as the current Chairman (Emeritus) of the salt-to-software conglomerate Ratan&nbsp;Tata&nbsp;had tweeted when Tata&nbsp;Group won the bid, It would have overjoyed the original pilot of the airline, JRD Tata to know that Air India is back home.

Tata&nbsp;group is moving swiftly into new businesses via startups, the latest addition being fitness franchise CureFit.&nbsp;
Tata Digital Ltd. a wholly owned subsidiary of Tata Group, will invest $75 million in fitness startup Curefit&nbsp;previously called CultFit. Ratan Tata&nbsp;was an early investor in this health start up founded by Flipkart&nbsp;co-founder Mukesh&nbsp;Bansal. Bansal&nbsp;will also be appointed&nbsp;president of&nbsp;Tata Digital as&nbsp; and continue to lead his company as well.
This is the salt to software conglomerates third big investment into a startup&nbsp;post BigBasket&nbsp;and 1mg.&nbsp;

 Tata Digital invests in CureFit, Mukesh Bansal appointed President to Tata Digital

Tata&nbsp;group is moving swiftly into new businesses via startups, the latest addition being fitness franchise CureFit.&nbsp;

Healthy add to the investment list, Tata Digital invests in CureFit

Tata&nbsp;group is moving swiftly into new businesses via startups, the latest addition being fitness franchise CureFit.&nbsp;
Tata Digital Ltd. a wholly owned subsidiary of Tata Group, will invest $75 million in fitness startup Curefit&nbsp;previously called CultFit. Ratan Tata&nbsp;was an early investor in this health startup founded by Flipkart&nbsp;co-founder Mukesh&nbsp;Bansal. Bansal&nbsp;will also be appointed&nbsp;president of&nbsp;Tata Digital and continue to lead his company as well.
This is the salt to software conglomerates' third big investment into a startup&nbsp;post BigBasket&nbsp;and 1mg.&nbsp;

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