Vistara to merge into Air India on November 12: Sources – Times of India
NEW DELHI: Vistara will merge into Air India on November 12. This date is learnt to have been finalised soon after the government has approved foreign direct investment (FDI) by Singapore Airlines into Air India. In a statement, SIA — which owned 49% in Vistara and will own get 25.1% stake in the merged AI by investing Rs 2,059 crore in it, said on Friday: “SIA confirms the government has approved its proposed FDI into the enlarged Air India Group, as part of the ongoing merger of Air India and Vistara.This approval, along with other governmental and regulatory approvals received to-date, marks a significant development towards the completion of the merger.”“SIA and its partner Tata Sons aim to finalise the merger by the end of 2024. Upon completion, SIA will hold a 25.1% stake in the enla...