Singapore Airlines to invest additional ₹3,195 crore in Air India post-Vistara merger
The Hindu
Singapore Airlines to invest ₹3,194.5 crore in Tata Group-owned Air India post-merger with Vistara, gaining 25.1% stake.
Singapore Airlines will make an additional investment of ₹3,194.5 crore in Tata Group-owned Air India post-merger of Vistara in November.
The merger, announced on November 29, 2022, and set to be completed on November 11, 2024, will result in Singapore Airlines having a 25.1% stake in the enlarged Air India.
Also read | Air India-Vistara merger: Assessment complete; systems integration in progress, says official
Full-service carrier Vistara, which started flying on January 9, 2015, is a joint venture between Tatas and Singapore Airlines, where the latter holds a 49% shareholding.
Singapore Airlines (SIA) Group on Friday said its consideration for the merger comprises the 49% interest in Vistara and ₹20,585 million (₹2,058.5 crore) in cash in exchange for a 25.1% equity interest in the enlarged Air India.
Post-merger, SIA expects to recognise a non-cash accounting gain of around 1.1 billion Singapore dollars and also start equity accounting for its share of Air India's financial results.
According to a release on Friday, the merger includes an agreement for SIA to contribute its share of any funding previously provided by Tata prior to the completion of the merger, together with relevant funding costs up to ₹5,020 crore that would allow it to maintain 25.1% stake in Air India.
Experience Kolkata's living museum at The City as a Museum event, featuring Tebhaga Andolan history through installations and performances.
Jannik Sinner thrives on home crowd support, defeating Taylor Fritz at ATP Finals with intense play and fan chants.
Rajasthan bypolls test BJP and Congress credibility, with triangular contests and impact on state politics.
Implementation on the northern part of the corridor, which is majorly in West Asia, is going to move slowly until the conflict subsides, while progress is faster on the eastern leg connecting the UAE and Indian ports
Recent incidents in Kerala highlight the importance of official channels for solving issues among bureaucrats
54-year-old onion merchant and driver escape unharmed after lorry catches fire near Vandavasi town, Andhra Pradesh.
MCD House sessions in Delhi plagued by chaos, adjournments, and wasted taxpayer money, with each session costing ₹3 lakh.
Former Vice-President emphasizes language learning, free education, and healthcare, while VIT founder calls for reduced GST on educational institutions.
Secunderabad MLA addresses governance, financial issues, and lack of representation in SCB, proposing solutions for community improvement.
Explore the new tourism circuit at Chaavadikota hill in Andhra Pradesh, offering stunning views and cultural experiences for visitors.
BJP leaders criticize Congress for unfulfilled promises in Congress-ruled States, urging voters to choose wisely in upcoming elections.