Singapore Airlines ( SIA ) said on Friday ( Aug 30 ) it has received approval from the Indian government for foreign direct investment, as part of a merger in which Vistara, its 49 per cent-owned joint venture with Tata, will be absorbed into Air India.
In a pay to establish a strong full-service aircraft in the domestic and international markets, Singapore’s premier carrier had made the announcement to combine Vistara and Tata-owned Air India in November 2022.
The FDI Approval and other political and regulatory approvals received to time, in addition to those related to anti-trust and acquisition control, are important steps in the direction of the proposed merger, according to SIA in a declaration.
Antitrust authorities in both India and Singapore have approved the transaction, which is anticipated to be completed by the end of 2024.
SIA may hold a 25.1 per cent interest in the combined party after the merger.