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Air India – Vistara airline merger confirmed
Friday, 29 Nov, 2022
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Singapore Airlines and Tata Sons confirmed the airline merger of Air India and Vistara.
SIA is investing US$250 million in Air India as part of the transaction.
This will give SIA a 25.1% stake in the Air India Group.
SIA and Tata plan to complete the airline merger by March 2024.
It will use cash reserves to fund the deal.
They also agreed to add possible capital injections to fund growth in FY2022/23 and FY2023/24.
SIA has held a minority share in Vistara since it formed as a joint venture with Tata.
The merger will bolster SIA’s presence in India and strengthen its multi-hub strategy.
Air India and Vistara have a total of 218 aircraft, serving 38 international and 52 domestic destinations.
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