Friday, March 1, 2024

US fighter jet shot down an unidentified object 40,000 feet high

Vivid News 24: Six days after the downing...

Sidharth Malhotra and Kiara Advani host reception party in Delhi

Vivid News 24: On social media, previously unreleased...

Tata Sons announces merger with Air India and Vistara, Singapore Airlines to have 25.1% stake

Vivid News 24: Air India is joining up with another airline. Sources claim that the merger of Air India and Vistara has been approved by Singapore Airlines Ltd (SIA) and Tata Sons. The merger of these two airlines, Air India and Vistara, was thus no longer hindered. This was confirmed by Singapore Airlines Ltd. (SIA) in a statement on Tuesday.

According to sources, Singapore Airlines is going to invest Rs 2058 crore in Air India under this deal. It is reported that Singapore Airlines will own a 25.1% stake in Air India Group after this merger. Singapore Airlines currently owns a 49 percent stake in Vistara and Tata holds the remaining 51 percent stake. The merger is currently scheduled to be completed by March 2024.

Also Read Ola, Uber fares to increase soon!

Air India to become the second largest airline Air India will become the second-largest airline in the country after its merger with Vistara. On the other hand, not only this attachment. The Tata group also plans to merge AirAsia India and Air India Express. 

From that point of view, the approval of the merger by the board of Singapore Airlines is a big relief for the Tata Group. Because the group plans to bring its 4 separate airlines under one umbrella. As a result, Air India, Vistara, AI Express, and Air Asia India will have no separate existence. Together they will become Air India Limited.

Incidentally, the Tata Group continues to emerge as a potential suitor to acquire Air India in October 2021. Later, in January this year, Tata acquired Air India and Air India Express. However, before this acquisition, Tata already owned Vistara and AirAsia airlines. If the Tata plan goes right, they will bring all their airlines together under the Air India brand.

Also Read Money sent to wrong UPI account? Know how to get refund

Vishnu Soni
Vishnu Sonihttps://vividnews24.com/
I am working at NewsMarkets24 Network for the last several years, I learn a lot of things here like News editing, News writing, and how to manage my team to maintain our goals. My job does not only give me experience but also helps to shape my person for success.
Latest news
Related news

LEAVE A REPLY

Please enter your comment!
Please enter your name here