 "Vistara and Air India to merge by March 2024, announces Tata Group")
New Delhi: The Tata Group on Tuesday announced that its airlines, Vistara and Air India will merge by March 2024. Earlier in the day, Singapore Airlines had made the same announcement. Tata group owns a 51 percent stake in Vistara, and the remaining 49 percent shareholding is with Singapore Airlines (SIA). As part of the transaction, SIA will also invest Rs 2,058.5 crore in Air India, PTI reported.
“This would give SIA a 25.1 per cent stake in an enlarged Air India group with a significant presence in all key market segments. SIA and Tata aim to complete the merger by March 2024, subject to regulatory approvals,” SIA said in a release. Founded by JRD Tata in 1932, Air India was nationalised in 1953. The airline was officially handed over to Tata Group in January 2022. Vistara, a joint venture between Tata Sons and Singapore Airlines started operations in January 2015. With inputs from agencies Read all the Latest News , Trending News , Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.
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