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Singapore Airlines gets FDI nod from Indian govt for Vistara-Air India merger
Updated On: 30 August, 2024 10:23 AM IST | Singapore | mid-day online correspondent
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 of Air India and Vistara was announced in November 2022. The deal is likely to create one of the world`s largest airline groups
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Singapore Airlines on Friday said that it has received the nod from the Indian Government for foreign direct investment (FDI) as part of the proposed merger of Vistara with Air India. The deal is likely to create one of the world`s largest airline groups, reported PTI.
With the clearance in place, the merger will see Singapore Airlines acquiring a 25.1 per cent stake in Air India. Singapore Airlines stated that the completion of the merger continues to be subject to compliance by the parties with applicable Indian laws. The proposed merger, which was announced in November 2022, is expected to be completed by the end of this year.
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