New Delhi,
With Tata Sons, which bought India’s national airline, its Vistara full-service airline. Vistara said it will act as a 25.1% owner of Air India as part of the joint venture merger agreement. Tata Group currently owns 51 per cent stake in Vistara, while Singapore Airlines holds the remaining 49 per cent stake.
This news has been confirmed by ANI news agency.
Earlier, Singapore Airlines had said that it was in talks with the Tata group regarding the merger of Vistara with Air India, while the Tata Group, which had acquired Air India, jointly operated Vistara with Singapore Airlines. The official announcement regarding it is out now.
The two companies have also confirmed that the merger will be completed by the end of the next financial year (2023-2024). It is noteworthy that this is a very important announcement in the airline industry.