December 10, 2024 20:34 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
INDIA bloc to knock on Supreme Court's doors over alleged EVM manipulation during Maharashtra polls | 'Babri Masjid should be rebuilt in Bengal's Murshidabad': TMC MLA Humayun Kabir sparks row | Rajnath Singh calls on Russian Prez Vladimir Putin in Moscow, discusses bilateral defence cooperation | Police to investigate conspiracy angle in Mumbai bus accident that killed 7 | Mamata Banerjee should lead INDIA bloc: Lalu Prasad Yadav | Opposition moves no-confidence motion against VP Jagdeep Dhankar in RS | Mumbai bus accident: Toll rises to seven, 42 injured | SM Krishna was an extraordinary leader, prolific reader and thinker: PM Modi condoles former Karnataka CM's demise | Former Karnataka CM SM Krishna, who transformed Bangalore into India's 'Silicon Valley', dies at 92 | Indian Foreign Secretary Vikram Misri reaches Dhaka, holds bilateral talks with Bangladeshi counterpart amid strained ties
Singapore Airlines
Representational image by Jeffry Surianto on Pexels

Singapore Airlines gets India's FDI clearance for Air India-Vistara merger

| @indiablooms | Aug 30, 2024, at 05:41 pm

New Delhi/IBNS: Singapore Airlines (SIA), the flagship carrier of Singapore, on Friday (August 30) said it has received approval from the Government of India for foreign direct investment (FDI), as part of a merger in which Vistara, its 49 percent-owned joint venture with Tata, will be absorbed into Air India, reports said.

According to reports, in a bid to create a dominant full-service airline in the domestic and international markets, SIA had announced the plan to merge Vistara and Tata-owned Air India in November 2022.

"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," Singapore's flagship carrier said in a statement.

The deal has already been cleared by both Indian and Singaporean antitrust regulators.

The Indian government has approved a S$360 million ($276 million) investment by Singapore Airlines Ltd. into the new carrier from the merger of Air India and Vistara, reported moneycontrol.com

Vistara will merge into Air India on Nov 12, 2024.

Vistara posted on its social media about the merger stating that from September 3, customers will “progressively no longer be able to make bookings with Vistara for travel on or after November 12." 

"We are merging with Air India for you to fly #ToLimitlessPossibilities! Vistara flights, starting 03-September-2024, will progressively not be available for bookings for travel after 11-November-2024. 12-November-2024 onwards, you will be required to book with Air India. Stay tuned for further updates," it posted on Facebook.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.