News Brief
Tata Group's Air India, Vistara Merger Gets Approval From Singapore's Competition Watchdog
Tata-Group-led Air India's Boeing 787 Dreamliner.
Singapore's competition watchdog has given approval for the merger between Tata Group-owned Air India and Vistara, a joint venture between Tata and Singapore Airlines, with certain conditions.
The merger, announced by Singapore's flagship carrier in November 2022, aims to create a dominant full-service airline in both domestic and international markets as pe a report by The Economic Times.
While India's antitrust body approved the merger in September last year, the Competition and Consumer Commission of Singapore (CCCS) had raised competition concerns, particularly regarding the majority market share the parties would hold on routes between Singapore and Indian cities.
To address these concerns, the parties have proposed to maintain capacity on these routes at pre-COVID levels, appoint independent auditors to monitor compliance, and submit regular reports.
"CCCS considers the proposed commitments sufficient to address the competition concerns arising from the transactions," the watchdog said.
Under the terms of the deal, Tata would hold 74.9 per cent of the combined entity, with Singapore Airlines owning the remaining 25.1 per cent.
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