Vistara Airline to be merged with Air India, merger deal gets CCI approval – vistara-air india merger gets cci approval
[ad_1]
New DelhiAir India-Vistara airline has got the approval for the merger. The Competition Commission of India has given permission to merge Vistara with Air India. After the merger of Vistara, Air India will now become the second largest domestic airline in the country in terms of passengers. This merger will be completed by 2024. Let us tell you that for a long time, preparations were on for the merger of Vistara with Air India.
The Competition Commission of India (CCI) on Friday approved the proposed merger of Air India and Vistara with certain conditions. It is being seen as a major step for the Tata Group to expand its airline business. CCI informed on social networking platform X on Friday that it has approved the merger. “The CCI has approved the merger of Tata SIA Airlines with Air India and acquisition of certain shares in Air India by Singapore Airlines subject to compliance with the voluntary commitments proposed by the parties,” it said.
The Competition Commission of India (CCI) on Friday approved the proposed merger of Air India and Vistara with certain conditions. It is being seen as a major step for the Tata Group to expand its airline business. CCI informed on social networking platform X on Friday that it has approved the merger. “The CCI has approved the merger of Tata SIA Airlines with Air India and acquisition of certain shares in Air India by Singapore Airlines subject to compliance with the voluntary commitments proposed by the parties,” it said.
Vistara and Air India are full-service airlines of the Tata group. Singapore Airlines holds a 49 percent stake in Vistaar. The Tata group announced its expansion merger with Air India in November last year under a deal in which Singapore Airlines would also acquire a 25.1 per cent stake in Air India.
CCI’s nod was sought for the proposed merger in April this year. Tata Sons Private Limited (TSPL), Air India Limited, Tata SIA Airlines Limited (TSAL) and Singapore Airlines Limited have been made parties. After this deal, Air India will become the country’s largest international airline and second largest domestic airline.
[ad_2]
Source link
