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Air India and Tata SIA proposed merger receives foreign direct investment approval
August 30th 2024
Tata SIA has announced the Government of India has approved its Director Foreign Investment (FDI) in an enlarged Air India as part of an on-going merger of the two carriers. Read More »
“This approval, along with other governmental and regulatory approvals received to date, marks a significant development towards the completion of the merger,” Singapore Airlines said in an August 30 statement. “SIA and its partner, Tata Sons, aim to finalise the merger by the end of 2024. Upon completion, Singapore Airlines will hold a 25.1% equity in an enlarged Air India Group.”
It continued: “SIA and Tata Sons are firmly committed to supporting the growth and success of the Air India Group, which post-merger will have a significant presence in all key Indian airline market segments from full-service, low-cost, international and domestic.
It will reinforce SIA’s multi-hub strategy and underscore its long-standing commitment to India through a direct stake in this large and rapidly growing aviation market.”
