Brief by Shorts91 Newsdesk / 05:19am on 30 Aug 2024,Friday Business
The Indian government has approved a $276 million investment by Singapore Airlines in Air India, clearing the final hurdle for the merger with Vistara. The deal, expected to be completed by year-end, will combine the planes, staff, and routes of both airlines, with Singapore Airlines holding a 25.1% stake in the enlarged Air India Group. This investment is part of Air India's restructuring efforts, and marks a significant step towards creating a stronger, more competitive airline group in the Indian aviation sector. The Tata Group, joint owner of Vistara, will also benefit from the merger.
