Vistara-Air India merger: Singapore Airlines has received approval from the Government of India for Foreign Direct Investment (FDI) as part of Vistara’s proposed merger with Air India. The airline company gave this information on Friday. With this approval, the merger is expected to be completed by the end of this year. Under this, Singapore Airlines will acquire 25.1 percent stake in Air India. The deal is expected to form one of the world’s largest airline groups. At the same time, now passengers will not be able to book with Vistara for travel from September 3 to November 12, 2024 or later.
The announcement was made in November 2022
This proposed merger was announced in November 2022. Air India is owned by the Tata Group and Vistara is a 51:49 joint venture between Tata and Singapore Airlines. Singapore Airlines (SIA) said in a notice to the Singapore Stock Exchange on Friday that it has received approval from the Government of India for foreign direct investment (FDI) as part of Vistara’s proposed merger with Air India.
Will not be able to book for Vistara
Now passengers will not be able to book with Vistara for travel from September 3 to November 12, 2024 or later. All Vistara aircraft will be operated by Air India and bookings for routes operated by these aircraft will be redirected to the Air India website. Vistara will continue to take bookings and operate flights normally till November 11, 2024.
This stock of ₹ 7 has seen a stormy rise of 13,000%, an investment of ₹ 1 lakh became ₹ 1 crore in a year
What did the company say?
The airline company said that the completion of the merger is subject to compliance with applicable Indian laws by the concerned parties. It is expected to be completed in the next few months. According to the company information, “The proposed merger is expected to be completed by the end of 2024.” This merger will form one of the largest airline groups. It was approved by the National Company Law Appellate Tribunal (NCLT) in June.
