Singapore Airlines Receives Approval For Vistara-Air India Merger

• Singapore Airlines on August 30, said it has received approval from the Indian government for the foreign direct investment as part of the proposed merger of Vistara with Air India.
• This deal will create one of the world’s largest airline groups.
• With the clearance in place, the merger that will see Singapore Airlines acquiring a 25.1 per cent stake in Air India, is expected to be completed by the end of this year.
• The proposed merger was announced in November 2022.

Singapore Airlines receives approval for Vistara-Air India merger

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.

FDI approval

“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.