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Singapore Airlines and Tata to merge Air India and joint venture Vistara
November 30th 2022
Singapore Airlines (SIA) and Tata Sons propose to merge Air India and joint venture full-service carrier, Vistara. Read More » The integrated airline group will be 25.1% owned by SIA with the remainder held by the Tata conglomerate, SIA said in a regulatory filing to Singapore's SGX stock exchange. Currently, SIA controls 49% of full-service Vistara with Tata’s holding the remaining 51%. Tata also owns 100% of Air India and 100% of LCCs, Air India Express and AirAsia India. “With this merger, we have an opportunity to deepen our relationship with Tata and participate directly in an existing new growth phase in India's aviation market,” SIA Group CEO, Goh Choon Phong, said. “We will work together to support Air India's transformation programme, unlock its significant potential and restore its position as a leading airline on the global stage.” SIA will invest 20.6 billion rupee (US$250 million) in Air India and will provide capital injections to 50.2 billion rupee in the merged carrier in fiscal 2023 and 2024, depending on regulatory approval of the integration, the Singapore-based group said. “The merger of Vistara and Air India is an important milestone in our journey to make Air India a truly world-class airline,” Tata Sons chair, Natarajan Chandrasekaran, said. “We are excited by the opportunity to create a strong Air India that will offer full-service and low-cost services across domestic and international routes.”
