SIA to complete merger of Vistara-AI at the earliest
Singapore Airlines has said it aims to complete the merger of Vistara with Air India “as soon as possible” subject to remaining approvals from relevant authorities.
Once the proposed merger, which was approved by the Competition Commission of India (CCI) on September 1, is complete, Singapore Airlines will have a 25.1 per cent stake in Air India.
Vistara is a joint venture in which Singapore Airlines has a 49 per cent stake, while the rest is with the Tatas.
Singapore Airlines and Air India have given certain commitments to the CCI to address the competition concerns arising out of the merger.
In a statement on Tuesday, Singapore Airlines welcomed the CCI’s approval of the merger and said the airline as well as Scoot will follow the commitments.
Scoot is a part of the Singapore Airlines group.
“Singapore Airlines continues to work with our partner Tata Sons and aims to complete the merger as soon as possible, subject to the remaining approvals from the relevant authorities,” an airline spokesperson said in an e-mailed statement.
Air India and Singapore Airlines have committed to maintain minimum capacity/ supply level in relation to certain overlapping O&D (Origin & Destination) pairs between India and Singapore — Delhi-Singapore, Mumbai-Singapore, Tiruchirappalli-Singapore and Chennai-Singapore, as per the CCI order. (Source: PTI)