According to a regulatory filing, airline carrier Vistara has received Rs. 2,000 crores from Tata Sons and Singapore Airlines, in order to start their overseas flying. The board of Vistara on 12 October, approved the allotment of 200 crore equity shares of Rs. 10 apiece to Tata Sons Pvt Ltd and Singapore Airlines, as per filing made to the Corporate Affairs Ministry.

The allotment of these shares amounts to a fund fusion of Rs. 2,000 crores. The airline is majority-owned by Tata Sons, which holds 51% stake and the remaining 49% is owned by Singapore Airlines.

Vistara which commenced their operations more than three years ago, on 9 January 2015 and currently has a fleet of 22 planes, is planning an ambitious expansion, including buying 19 Airbus, Boeing planes worth $ 3.1 billion.

According to the regulatory filing, the board has approved the issuance of little over 101.99 crores shares to Tata Sons and 98 crores shares to Singapore Airlines. Vistara had also announced leasing 37 new A320-neo family planes.

Vistara who is looking to start boarding of international destinations is waiting for final approvals. According to a filing made by Tata Sons to the ministry, the airline had earlier reported a net loss of Rs 431.09 crores for the year ended 31 March 2018, post taxation. Vistara commercially operates around 120 flights every day and flies to 22 destinations.

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