Tata Sons, Singapore Airlines Agree On Terms, Done Deal By March 2024

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New Delhi:

Vistara airlines will be merged with Tata-owned Air India by March 2024, said a release by Singapore Airlines, which owns the majority share in Vistara in a joint venture with Tata. The rearrangement will mean a wider fleet and more routes under the Air India brand.

Singapore Airlines will own around 25 per cent of this enlarged company, into which it’ll infuse over Rs 2,000 crore. At present it owns 51 per cent of Vistara, while 49 per cent is with Tata, which bought Air India for Rs 18,000 crore as part of a government disinvestment early this year.

The companies “aim to complete the merger by March 2024, subject to regulatory approvals”, said the release.

Tata also owns low-cost carriers Air India Express and AirAsia India, both of which will also be merged under the Air India brand by 2024.

This means all four brands consolidated under Air India, a company which was founded by the Tatas but later nationalised, only to come back to the Tatas after losses piled up and the government decided it’s best to sell it off.

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