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Tata Sons to merge Air India and Vistara

November 29, 2022
in Global
Tata Sons to merge Air India and Vistara
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Tata Sons and Singapore Airlines (SIA) have agreed to merge Air India and Vistara by March 2024, subject to regulatory approvals. SIA is investing Rs 2,059 crore in Air India and will get 25.1% stake in the company with significant presence in all the major market segments.

Tata group owns a 51 per cent stake in Vistara, and the remaining 49 per cent shareholding is with Singapore Airlines (SIA).

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SIA plans to fully fund this investment with internal cash resources, which was at $17.5 billion on September 30, 2022. Both companies also agreed to participate in additional capital injections, if the need be, to fund the growth and operations of the enlarged Air India in Financial year 2023 and 2024. Based on the stakes that SIA will own post-completion, the share of any additional capital injection would be up to Rs 5,020 crore that will be payable only after the merger is completed.

Source: Free Press Journal
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