JOIN USVistara CEO tries to reassure employees worried over merger with Air India
Vistara’s proposed merger with Air India has left its employees anxious about their future with the company. The Tata group on Tuesday announced the merger of Vistara with Air India under a deal wherein Singapore Airlines will also acquire a 25.1 per cent stake in Air India, marking a major consolidation in India's fast-growing aviation space.
According to a report in The Economic Times, several Vistara employees, dazed by the recent announcement and gripped by uncertainty looming over their jobs, have started looking for jobs outside the company.
Vinod Kannan, the CEO of Vistara since January this year, tried to calm down employees in an email addressed to them.
“We have all worked hard and tirelessly to build and establish Vistara as the award-winning airline of choice in India in a short span of time. This has borne significant results that we are all aware of — on the operational, financial and people front. This has not gone unnoticed — by our shareholders,” the report quoted the letter as saying.
“There will definitely be multiple opportunities — for growth, elevation and progress. Therefore, I urge you not to worry and speculate about your future. We remain an integral part of the aviation footprint of our shareholders and this does not change - regardless of the AOC (air operator certificate) we ascribe to,” he wrote.
“You are not sure about which team you will be in or the kind of responsibility or decision-making you will be allowed. Personally, for me, there is nothing cheerful in this announcement,” a Vistara employee told ET.
A full-service carrier, Vistara was the country's second-largest domestic carrier with a market share of 9.2 per cent in October.
The company is 51 per cent owned by Tata group and the remaining 49 per cent shareholding is with Singapore Airlines (SIA).
(With inputs from PTI)