Singapore Airlines planes sit on the tarmac at Changi Airport in Singapore on Nov 16, 2021. Singapore Airlines said on Friday it has received approval from the Indian government for foreign direct investment, as part of a merger in which Vistara, its 49 per cent-owned joint venture with Tata, will be absorbed into Air India.
Singapore's flagship carrier had announced the plan to merge Vistara and Tata-owned Air India in November 2022, in a bid to create a dominant full-service airline in the domestic and international markets. "The FDI Approval, together with anti-trust and merger control clearances and approvals, as well as other governmental and regulatory approvals received to date, represent a significant development towards the completion of the Proposed Merger," SIA said in a statement.
Both Indian and Singaporean antitrust regulators have cleared the deal, which is expected to be completed by the end of 2024. We know it's a hassle to switch browsers but we want your experience with CNA to be fast, secure and the best it can possibly be.
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Source: straits_times - 🏆 5. / 69 Read more »