Vistara has announced the cancellation of several flights due to a shortage of pilots and crew.

The Ministry of Civil Aviation (MoCA) is seeking a detailed report from Vistara regarding flight cancellations and major delays, as the airline has cancelled or delayed over 100 flights in the past week. The number of flights may increase to 70. Vistara attributed the disruptions to a shortage of pilots and announced measures to alleviate the situation, including reducing flight operations and using wide-body aircraft on domestic routes.

What Vistara said on flight delays and disruptions

Vistara has reported numerous flight cancellations and delays due to a shortage of pilots and crew, as stated by a company spokesperson. The company has experienced numerous crew unavailability issues in recent days.

The spokesperson stated that efforts are being made to stabilize the situation and that regular operations will resume soon.

The spokesperson stated that teams are working diligently to minimize customer discomfort.

The airline has deployed larger aircraft, such as the B787-9 Dreamliner and A321neo, on select domestic routes to accommodate more customers. They are offering alternate flight options or refunds to affected customers. They apologize for the inconvenience caused by the disruptions and are working to stabilize the situation. They aim to resume regular capacity soon.

Vistara is utilizing larger aircraft, such as the Boeing 787 Dreamliner, on certain domestic routes to accommodate more passengers as per a spokesperson.

The airline also experienced similar disruptions last month.

The Economic Times reports that first officers of Vistara, unhappy with their new employment contract, have been reporting sick for the past two days, leading to multiple flight delays.

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In the nine months leading up to December 2023, Swiggy lost $200 million, as per a corporate internal document. This occurs as the company, funded by SoftBank, looks to go public on the stock market. Swiggy may begin listing by the end of 2025, according to prior reports.

According to an internal document seen by Reuters, Swiggy lost $500 million during the course of the fiscal year 2022–2023. The report, which cited unidentified sources, asserted that the corporation reduced losses for the entire year 2023–24 thanks to lower wage payouts and spending reductions in marketing.Swiggy’s losses for the first nine months of the fiscal year 2023–2024, from April to December 2023, totaled $207 million. During that time, the company’s sales was $1.02 billion, down from $1.05 billion in the fiscal year 2022–2023.According to an internal document seen by Reuters, Swiggy lost $500 million during the course of the fiscal year 2022–2023. The report, which cited unidentified sources, asserted that the corporation reduced losses for the entire year 2023–24 thanks to lower wage payouts and spending reductions in marketing.

Swiggy’s losses for the first nine months of the fiscal year 2023–2024, from April to December 2023, totaled $207 million. During that time, the company’s sales was $1.02 billion, down from $1.05 billion in the fiscal year 2022–2023.

Investors valued Swiggy at $10.7 billion in 2022. The business began by delivering meals, then it grew to include groceries and reservations for restaurants.

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Tiger Global and Peak XV Partners are leading the latest round, with a combined investment of $150 million.

Meesho is set to raise $300 million from Tiger Global and SoftBank, along with existing and other investors like Peak XV Partners and Mars Growth Capital. This is Tiger Global’s first major round in India since Scott Shleifer stepped down in November. This is one of the few large rounds for Meesho in the past 12 months.

Tiger Global and Peak XV Partners are leading a $150 million round in Meesho, with Peak XV and some limited partners expected to contribute $70 million. Tiger Global is a new investor, while Peak XV is an existing backer. Meesho’s current valuation is $3.9 billion, 20% lower than its previous 2021 valuation. SoftBank, an existing investor, is pushing $30 million for the remaining $150 million.

Meesho is relocating its base from Delaware to India, with a significant portion of the new capital being used to pay taxes before its upcoming IPO.

Meesho’s losses decreased from ₹3,251 crore in FY22 to ₹1,675 crore in FY23, while its revenue from operations increased by 77% from ₹3,232 crore in FY22 to ₹5,735 crore in FY23.

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