News Brief
Vistara-Air India Merger: Legal Approval By First Half Of 2024, Operational Merging By Next Year, Says CEO
A Vistara Airlines aircraft
Vistara's CEO, Vinod Kannan, announced on Monday (8 January) that all necessary legal clearances for the proposed merger of the airline with Air India are anticipated to be finalised by the first half of 2024.
This follows the Tata group's declaration in November 2022 of the planned merger, a deal that also includes Singapore Airlines acquiring a 25.1 per cent stake in Air India.
According to The Economic Times, Kannan stated at a briefing that the operational merging process is projected to begin by early to mid-next year, following the legal approvals. He also noted that all competition clearances are due by the end of the current quarter in March.
The Competition Commission of India (CCI) gave its approval for the proposed merger on 1 September 2023. At present, Vistara, a joint venture between Tatas and Singapore Airlines, operates a fleet of 67 aircraft.
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.
Latest
