Preparations are on for massive integration in the aviation sector. Actually, Tata Group has announced the merger of its airlines Vistara and Air India by March 2024. Under this, Vistara will be merged with Air India. After this deal, Singapore Airlines will hold 25.1 per cent stake in Air India.
Singapore Airlines and Tata have also agreed to provide funds, if required, to improve the airline’s operations in the future. Tata currently holds 51 per cent stake in Vistara, while 49 per cent is held by Singapore Airlines.
Along with this, Singapore Airlines said in the statement, “The companies aim to complete the merger by March 2024, subject to regulatory approval.
Tata also owns low-cost airlines Air India Express and Air Asia India, both of which will be merged under the Air India brand by 2024.