New Delhi. Tata Group is going to do a very big deal. First Air India and now the reins of another big airline company are going to go into the hands of Tata Group. Vistara Airlines will be merged with Air India by March 2024. Let us tell you that this big decision has been taken by the company regarding Vistara which was running in loss for some time. The board of Singapore Airlines has given its approval for the deal with Tata Sons.
Significantly, Singapore Airlines wants to take stake in this Tata plant, that is why Singapore Airlines has decided to invest Rs 20,585 million in Air India for this deal.
Tata Group announces merger of Air India and Vistara by March 2024
— ANI Digital (@ani_digital) October 29, 2022
In return, it will get a 25.1 percent share in all major market segments of Air India. SIA and TATA aim to complete this merger by 2024.
Let us tell you that Singapore Airline has 49 percent stake in Vistara Airline, while 51 percent stake is with Tata Group. The deal is to be completed by March 2024.