Singapore Airlines Singapore Airlines gets India's FDI clearance for Air India-Vistara merger
New Delhi/IBNS: Singapore Airlines (SIA), the flagship carrier of Singapore, on Friday (August 30) said it has received approval from the Government of India for foreign direct investment (FDI), as part of a merger in which Vistara, its 49 percent-owned joint venture with Tata, will be absorbed into Air India, reports said.
According to reports, in a bid to create a dominant full-service airline in the domestic and international markets, SIA had announced the plan to merge Vistara and Tata-owned Air India in November 2022.
"The FDI Approval, together with anti-trust and merger control clearances and approvals, as well as other governmental and regulatory approvals received to date, represent a significant development towards the completion of the Proposed Merger," Singapore's flagship carrier said in a statement.
The deal has already been cleared by both Indian and Singaporean antitrust regulators.
The Indian government has approved a S$360 million ($276 million) investment by Singapore Airlines Ltd. into the new carrier from the merger of Air India and Vistara, reported moneycontrol.com
Vistara will merge into Air India on Nov 12, 2024.
Vistara posted on its social media about the merger stating that from September 3, customers will “progressively no longer be able to make bookings with Vistara for travel on or after November 12."
"We are merging with Air India for you to fly #ToLimitlessPossibilities! Vistara flights, starting 03-September-2024, will progressively not be available for bookings for travel after 11-November-2024. 12-November-2024 onwards, you will be required to book with Air India. Stay tuned for further updates," it posted on Facebook.
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