New Delhi: Singapore Airlines on Tuesday said the proposed merger of Air India and Vistara is in progress, and is awaiting foreign direct investment and other regulatory approvals. Vistara is a joint venture between Singapore Airlines and Tata Group. The merger of Vistara with Air India under a deal, wherein Singapore Airlines will acquire a 25.1 per cent stake in Air India, was announced in November 2022.
While announcing its December quarter results, Singapore Airlines said the merger will bolster its presence in India, strengthen its multi-hub strategy, and allow it to continue participating directly in this large and fast-growing aviation market.
