Vistara to merge with Air India by 2024
The Tata Sons Company has announced on 29 November 2022 that Vistara Airlines will be merged with Air India by March 2024. Earlier in the day the Singapore Airlines had made the same announcement. Tata sons is the owner of Air India.
Vistara Airlines is a joint venture of the Tata Sons and the Singapore Airlines which started its operation in 2015. Tata group owns a 51 percent stake in Vistara, and the remaining 49 percent shareholding is with Singapore Airlines (SIA).
After the merger of both the Airlines the Singapore Airlines stake in Air India will be25.1%.The Vistara brand will be scrapped and Singapore Airlines will also invest Rs 2058.50 crore in Air India. Similar amount will be invested by Tata’s in Air India.
The Tata group also plans to merge its Air India Express and AirAsia India with Air India by 2024.
Air India was founded by JRD Tata in 1932 which was nationalized by the Government in 1953. However, the government sold back the company back to Tata Group for Rs 18,000 cores and handed the management of Air India to the Tata’s in January 2022.
Air India will become the largest international carrier of India and second largest domestic airline when the merger is completed .InterGlobe Aviation Ltd. with the brand name IndiGo is the largest domestic airline in the country.
Air India Managing Director and Chief Executive Officer: Campbell Wilson
Headquarters of Air India: New Delhi
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