Singapore Airlines Receives Approval for Vistara-Air India Merger

Singapore Airlines has received approval for foreign direct investment from the Indian government for its proposed merger with Air India, involving Vistara. The merger, expected to conclude by the end of 2024, will create one of the world's largest airline groups.

Singapore Airlines on Friday announced it has received vital approval from the Indian government for foreign direct investment, advancing the proposed merger of Vistara with Air India. This strategic move is set to form one of the world's largest airline groups.

With regulatory clearance secured, Singapore Airlines will acquire a 25.1 percent stake in Air India. Initially disclosed in November 2022, the merger aims to finalize by late 2024, contingent on compliance with Indian laws and ongoing discussions to extend the completion date from October 31, 2024.

The merger received prior endorsements from the National Company Law Tribunal in June, Singapore's competition regulator CCCS in March, and India's Competition Commission in September, subject to conditions. Singapore Airlines emphasized that further announcements will follow upon significant developments or completion of the merger.

(With inputs from agencies.)