After Tatas acquired Air India in January this year, to reviving the loss-making airline, they unveiled a comprehensive transformation plan. Majorly the plan focuses on five factors being industry leadership, robust operations, commercial efficiency, industry best-talent and exceptional customer experience
Air India Chief Financial Officer Vinod Hejmadi said that Air India is in discussions with aircraft manufacturers for acquiring planes on 14 October. Tata group-owned airline is planning expansion of its fleet by three times as compared to the current size.
He also said that currently the airline is going through the “taxiing phase” and it requires years two years to take off, consolidate and enter the growth mode.
After Tatas acquired Air India in January this year, to reviving the loss-making airline, they unveiled a comprehensive transformation plan. Majorly the plan focuses on five factors being industry leadership, robust operations, commercial efficiency, industry best-talent and exceptional customer experience.
Previously he At the Aviation Insurance Symposium 2022 hosted by Global Insurance Brokers Pvt Ltd he said that it was a matter of survival for the airline however, now it looks towards a growth trajectory after Tata group the acquired the airline.
Further he said, the airline is investing heavily in technology, digitisation and manpower and it will be inducting five wide-body Boeing and 25 Airbus narrow-body planes in coming 15 months. The aircraft being leased are 21 Airbus A320 neos, four Airbus A321 neos and five Boeing B777-200LRs, as per a 15 September release issued by the airline.
Air India’s narrow-body fleet stands at 70 aircraft and out of them, 54 are in service whereas the remaining 16 aircraft will progressively return to service by early 2023. The wide-body fleet stands at 43 aircraft, of which 33 are operational. The rest will return to service by early 2023, as per the release.
Tata group has initiated an exercise to evaluate options to consolidate AirAsia India and Vistara under Air India to bring operational synergies. At present, Tata group holds 51 per cent stake in Vistara and is now owns Air India and Air India Express. The group also has 83.67 per cent shareholding in domestic carrier AirAsia India.
Singapore Airlines on 13 October said that it was in “confidential discussions” with Tata group to explore possible merger of Vistara and Air India. At the same time, Hejmadi on 14 October said Air India welcomes competition as this will ensure that everyone is on their toes.