NCLT Approves Air India-Vistara Merger: A New Giant in the Skies

The National Company Law Tribunal (NCLT) has approved the merger between Air India and Vistara, forming one of the world's largest airline groups. Singapore Airlines will hold a 25.1% stake in the merged entity. The merger is expected to finalize by year-end, following FDI and security clearances.

The National Company Law Tribunal (NCLT) paved the way for one of the world's largest airline groups by approving the merger of Air India and Vistara.

Announced in November 2022, the merger will result in Singapore Airlines holding a 25.1% stake in Air India. Vistara is a joint venture between Singapore Airlines and Tata Group.

The 31-page order from the Chandigarh bench sanctioned the 'composite scheme of arrangement' amongst Talace, Air India, and Vistara, all part of the Tata Group. The merger, expected to be completed by year-end, has received necessary approvals from shareholders, creditors, and regulatory bodies.

The NCLT decision, binding on all concerned parties, demands further FDI and security clearances within nine months.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)