Tata Group announces Air India merger with Vistara; SIA to get 25% stake
In a major consolidation in the Indian aviation space, Tata group on Tuesday announced the merger of Vistara with Air India, and pursuant to the deal, Singapore Airlines will have a 25.1 per cent stake in Air India.
The proposed deal is expected to be complete by March 2024, subject to regulatory approvals.
Tata group owns a 51 per cent stake in Vistara and the rest is with Singapore Airlines (SIA).
In a release, SIA said Vistara and Air India would be merged, and it would also be investing Rs 2,058.5 crore in Air India as part of the transaction.
“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.
