Vistara to merge with Air India, confirms Singapore Airlines
Tata Sons and Singapore Airlines (SIA) will merge Air India and Vistara to create India’s second-biggest carrier. SIA will hold a 25.1% stake in the entity with an equity infusion of Rs 2,058.50 crore. Tata will hold the rest.
The deal is part of Tata Sons chairman N Chandrasekaran’s effort to simplify the conglomerate’s businesses and make them more efficient.
