SIA to invest up to $1.24 billion for 25.1% stake in Air India with Vistara merger

Fresh from emerging from the pandemic with all pistons firing, flag carrier Singapore Airlines has worked out an appetite to venture overseas again.Tata earlier this year gained control of Air India while Vistara is an existing joint venture between Tata and SIA.

In addition, SIA and Tata will inject further capital if need be, to fund Air India in the current FY2023 ending March 2023 and the subsequent FY2024. “Tata Sons is one of the most established and respected names in India. Our collaboration to set up Vistara in 2013 resulted in a market-leading full-service carrier, which has won many global accolades in a short time,” says SIA CEO Goh Choon Phong.“With this merger, we have an opportunity to deepen our relationship with Tata and participate directly in an exciting new growth phase in India’s aviation market,” he says.

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Tata to bolster Air India with Vistara mergerNEW DELHI :Indian conglomerate Tata Group is merging Air India with Vistara, its joint venture with Singapore Airlines (SIA), to create a bigger full-service carrier that will strengthen its presence in domestic and international skies.Autos-to-steel conglomerate Tata will hold 74.9 per cent of the combined e
Источник: ChannelNewsAsia - 🏆 6. / 66 Прочитайте больше »