India has approved Singapore Airlines’ (SIA) foreign direct investment (FDI) in the merger between Air India and Vistara, clearing the final hurdle for the consolidation of the two airlines.
SIA will hold a 25.1% stake in the merged Air India Group in exchange for an investment of €220 million, with a total planned investment of up to €540 million.
Vistara’s operations will be integrated into Air India starting in November, and bookings on Vistara for travel after November 12 will be redirected to Air India’s website. The merger is expected to be completed by the end of 2024, slightly delayed from the original March target.
This post was published on 1 September 2024 12:13
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