Air India is owned by Tata Group and Vistara is a 51:49 joint venture between Tatas and Singapore Airlines.
In a regulatory filing on August 30, Singapore Airlines (SIA) said it has received approval from the Government of India for Foreign Direct Investment (FDI) into the enlarged Air India as part of the proposed merger.
“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,” the airline said in the filing to the Singapore Stock Exchange.
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