New Delhi: Singapore Airlines on Tuesday said its partner carrier Vistara will merge with Tata Group’s Air India.
The Tata group holds 51 per cent stake in Vistara. The remaining 49 per cent is held by Singapore Airlines (SIA).
Under this merger deal, SIA will also invest Rs 2,058.5 crore in Air India.
“The deal will take SIA’s stake in Air India, which has a good presence in all major markets, to 25.1 per cent,” Singapore Airlines said in a release. SIA and Tata aim to complete the merger by March 2024. It also depends on regulatory approvals. ’