Vistara Airlines will be merged with Tata-owned Air India by March 2024, said a release by Singapore Airlines, which holds a majority stake in Vistara in a joint venture with Tata. The restructuring would mean a wider fleet and more routes under the Air India brand.
Singapore Airlines will hold about 25 per cent stake in the enlarged company, in which it will invest over Rs 2,000 crore. It currently owns 51 per cent of Vistara, while 49 per cent is held by Tata, which earlier this year bought Air India for Rs 18,000 crore as part of government disinvestment.
The companies aim to complete the merger by March 2024, subject to regulatory approval.
Tata also owns low-cost carriers Air India Express and AirAsia India, both of which will also be merged under the Air India brand by 2024.
This means all four brands are consolidated under Air India, a company that was set up by the Tatas but was later nationalised, to come back to the Tatas after the losses piled up and the government asked it to sell off. Good decision.
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