Vistara to Merge with Air India by 2024
30th Nov 2022
Myonlineprep
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Vistara to Merge with Air India by 2024
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Singapore Airlines (SIA) and Tata Sons announced that they have agreed to merge Air India and Vistara, with SIA getting a 25.1 per cent stake in the merged entity at an investment of Rs 2,058.5 crore ($250 million) in Air India as part of the transaction.
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The 25.1 per cent stake will be in an enlarged Air India group – it will have Air India, Vistara, AirAsia India and Air India Express – and the merger of all airlines is targeted for completion by March 2024, subject to regulatory approvals.
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This will take the fleet size to 218, putting together Air India’s 113 with AirAsia India’s 28, Vistara’s 53, and Air India Express’s 24. It will then be India’s largest international carrier and second largest domestic carrier.
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