scorecardVistara will merge with Tata group-owned Air India: Singapore Airlines
  1. Home
  2. business
  3. news
  4. Vistara will merge with Tata group-owned Air India: Singapore Airlines

Vistara will merge with Tata group-owned Air India: Singapore Airlines

Vistara will merge with Tata group-owned Air India: Singapore Airlines
Business1 min read
  • Vistara to merge with Tata group-owned Air India.
  • Tata group owns a 51 per cent stake in Vistara while Singapore Airlines owns the remaining 49 per cent.
  • Singapore Airlines will also invest ₹2,058.5 crores in Air India giving it a 25.1 per cent stake in the Air India group.
Singapore Airlines on Tuesday said Vistara will be merged with Tata group-owned Air India. Tata group owns a 51 per cent stake in Vistara, and the remaining 49 per cent shareholding is with Singapore Airlines (SIA).

As part of the transaction, SIA will also invest ₹2,058.5 crores in Air India.

"This would give SIA a 25.1 per cent stake in an enlarged Air India group with a significant presence in all key market segments. SIA and Tata aim to complete the merger by March 2024, subject to regulatory approvals," SIA said in a release.

SEE ALSO:
Mixed demand trends for autos in November as festive boost wears off but signs of rural recovery visible

ICICI Bank launches digital lending solution iLens, powered by TCS

READ MORE ARTICLES ON




Advertisement