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Vistara To Merge With Air India Which Is Growing After Tata Takeover
With Tata Sons as majority owner, Singapore Airlines will own around 25 per cent of enlarged Air India, into which it'll infuse over ₹ 2,000 crore
New Delhi:
Vistara airlines will be merged with Tata-owned Air India by March 2024, the company announced today. Singapore Airlines, which owns minority share in Vistara in its joint venture with Tata, will own around 25 per cent of the enlarged Air India, into which it'll infuse over ₹ 2,000 crore.
The rearrangement will mean a larger fleet and more routes under the Air India brand as Tata Sons rebuilds a mega aviation wing of its empire. At present, 51 per cent share in Vistara is with Tata, while Singapore Airlines owns the remaining 49 per cent in the join venture set up in 2013.
Since Tata bought Air India for ₹ 18,000 crore as part of a government disinvestment around a year ago, the plan has been to merge all its aviation brands under that name.
For Vistara, the two owners "aim to complete the merger by March 2024, subject to regulatory approvals", said a Singapore Airlines release. Tata also owns low-cost carriers Air India Express and AirAsia India, both of which will be merged under the Air India brand, too, by 2024.
This will take the fleet size to 218, putting togetaher Air India's 113 with AirAsia India's 28, Vistara's 53, and Air India Express's 24. It will then be India's largest international carrier and second largest domestic carrier, Tata Sons said.
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