Vistara, Air India merger: Employees' efforts have not gone unnoticed, says CEO Vinod Kannan
By Team Newsable | First Published Nov 30, 2022, 9:38 AM IST"In a short period, we have all worked hard and tirelessly to build and establish Vistara as India's award-winning airline of choice. This has yielded significant results, which we are all aware of, regarding operations, finances, and people. This has not gone unnoticed by our shareholders," said Vistara's CEO Vinod Kannan.
After Tata Sons and Singapore Airlines (SIA) announced their decision to merge Vistara and Air India on Tuesday, CEO Vinod Kannan assured employees that they need not be concerned. Around 4,700 Vistara employees were perplexed after the announcement; however, Kannan assured them, saying, "There will definitely be multiple opportunities."
Vistara's CEO attempted to ally employees' concerns about their future after the company's proposed merger with Air India. Kannan asked employees not to worry or speculate about their future an email. He assured them that their contributions to the building of Vistara had 'not gone unnoticed.'
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"We are on this journey together and will emerge stronger at the end," Kannan told Vistara employees. Adding that, he is also planning a town hall meeting with employees for next week.
"In a short period, we have all worked hard and tirelessly to build and establish Vistara as the award-winning airline of choice in India. This has yielded significant results, which we are all aware of, regarding operations, finances, and people. This has not gone unnoticed by our shareholders," Kannan said, as per reports.
The CEO continued that there will certainly be multiple opportunities for advancement, elevation and progress. "Regardless of the AOC (air operator certificate) we ascribe to; we remain an integral part of our shareholders' aviation footprint," Kannan noted.
Concerning Vistara's future, Kannan explained that the company remains committed to the growth, fleet, and expansion plans that will see it grow from its current 54-aircraft fleet to 70 by the end of 2023. He said this would continue, and we will gradually introduce new routes, destinations, and frequencies.
The email further reads about the fate of Vistara employees, saying, "We have all worked hard and tirelessly to build and establish Vistara as the airline of choice in India in a relatively short period. This has yielded significant results, which we are all aware of, regarding operations, finances, and people."
The employees' efforts in this regard have not gone unnoticed by management, the board, and our shareholders. Kannan added that the combined entity would benefit greatly from the experience, expertise, and enterprise of each Vistara staff member, which is what the shareholders are counting on.
Tata Sons and Singapore Airlines (SIA) announced the merger of Air India and Vistara on Tuesday. With an equity infusion of Rs 2,058.50 crore, SIA will hold a 25.1 per cent stake in the combined entity, and the Vistara brand will be phased out. Kannan, a nominee of Singapore Airlines, has been the CEO of Vistara since January 2022.
Also Read: Vistara to merge with Air India; Singapore Airlines to have 25.1% stake
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