Singapore Airlines receives FDI approval for Air India-Vistara merger ...Middle East

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Singapore Airlines receives FDI approval for Air India-Vistara merger
source : Business Standard ( Middle East ) () 186
Singapore Airlines on Friday said it has received approval from the Indian government for the foreign direct investment as part of the proposed merger of Vistara with Air India, a deal that will create one of the world's largest airline groups. With the clearance in place, the merger that will see Singapore Airlines acquiring a 25.1 per cent stake in Air India, is expected to be completed by the end of this year. The proposed merger was announced in November 2022. Air India is owned by Tata Group and Vistara is a 51:49 joint venture between Tatas and Singapore Airlines. In a regulatory filing on Friday, Singapore Airlines (SIA) said it has received approval from the Government of India for F

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