VISTARA SET TO MERGE WITH AIR INDIA AS SINGAPORE AIRLINES AS FDI NOD

Singapore Airlines (SIA) said that it has secured the Indian government's approval for foreign direct investment (FDI) of the planned merger between Vistara and Air India, in a regulatory filing submitted on Friday. SIA also confirmed its approval to become part of the expanded Air India entity as a result of the proposed merger.

SIA, which was 49% stake holder in Vistara, will get 25.1% stake in the merged airline by investing 2,059 crore in it with the approval now in hand. Tata Group that holds ownership of Air India, will have remaining 74.9% stake in AI. Vistara operates as a joint venture between Tatas and Singapore Airlines, with a 51:49 ownership structure.

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