Vistara and Air India will be merged by 2024. An agreement has been reached between Tata Sons and Singapore Airlines regarding this merger. Under the deal, Singapore Airlines will invest 2058 crores in Air India.
Singapore Airlines has given this information by issuing a statement in this regard on Tuesday. Significantly, Vistara is a joint venture between Singapore Airlines and Tata Sons.
Singapore Airlines and Tata have also agreed that if funds are needed to further improve the airline’s operations in future, these two companies will provide it. Tata currently holds 51 per cent stake in Vistara while 49 per cent is held by Singapore Airlines.
Second largest airline
The new company formed after this merger will be the largest airline company in the country. Significantly, there was a discussion going on for a long time that Tata can merge Air India and Vistara. Significantly, this merger also depends on regulatory approvals. According to reports, apart from this, Tata Sons is also working on a plan to merge AirAsia India and Air India Express. This merger has also got the approval of CCI.
