International Finance

Singapore Airlines to buy Boeing jets to stay competitive in India

Singapore Airlines India

Singapore Airlines is mulling buying more 787 Dreamliner jets in order to stay competitive in India, according to media reports.

Singapore Airlines competes in the aviation market in India through its joint venture Vistara. While Singapore Airlines owns a 49 percent stake in Vistara, the remaining 51 percent is owned by Tata Group.

Reportedly, the carrier is also considering adding more A320neo-family planes to its existing fleet. The new jets will be used to fly to destinations in the US and Europe from India.

The move is part of the Singapore Airlines’ plan to stay competitive in India and compete against the likes of Etihad and Emirates. The two Middle Eastern carriers currently dominate the route between India and the US and Europe.

According to local media reports, Vistara is also planning to buy slots in the London Heathrow airport. An investment of around $70million would allow Vistara to acquire the slots for the next 20 years.

Vistara operates more than 1,400 weekly flights and its fleet comprises 39 Airbus and Boeing jets. The carrier has a market share of 5.8 percent, the lowest among the other domestic players in the industry.

Earlier this month, Singapore Airlines announced that it will fly a fifth weekly flight to Kolkata in India. At the same time, it announced that its regional wing SilkAir will stop its services to the city.

Singapore Airlines is also set to increase its collaboration with All Nippon Airways (ANA) with a focus on the Asian market. The partnership, which is expected to come into effect in 2021, will focus on routes between Japan and Singapore.

The two carriers have already signed a code-sharing deal that allows them to sell seats on each other’s flight routes.

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