CCI approves Vistara-Air India merger
The Hindu
CCI approves merger of Vistara with Air India, Singapore Airlines to acquire 25.1% stake. Air India to become a company of four airlines, including AirAsia India and Air India Express. Singapore Airlines to invest ₹2,059 crore in Tata-owned airline. Vistara to form full-service business, AirAsia India to merge with Air India Express. CCI approved AirAsia India acquisition by Air India in June. Tata Sons raised shareholding to 100% in Dec.
The Competition Commission of India (CCI) on Friday approved the merger of Vistara with Air India as well as allowed Singapore Airlines to acquire 25.1% stake in the erstwhile national carrier.
The CCI announced the decision through a post on X (formerly Twitter).
With this CCI nod, Air India has completed a major regulatory procedure towards becoming a company that comprises four airlines, including AirAsia India and Air India Express apart from Vistara.
Singapore Airlines, which is a co-owner of Vistara alongside Tata Sons, will get a 25.1% stake in Air India and make an investment of ₹2,059 crore in the Tata-owned airline as part of an agreement last year to merge their joint-venture airline with Air India.
Vistara will be integrated with Air India to form-the airline’s full-service business, while AirAsia India will be merged with Air India Express to form the group company’s low-cost arm.
The latter’s merger is expected to conclude by March 2024. In June last year, the CCI had approved the full acquisition of AirAsia India by Air India and months later, Tata Sons raised their shareholding from 81.7% to 100% by acquiring the remainder from Malaysia’s AirAsia Aviation Group Ltd. for $18.8 million.
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