 "Vistara expects all legal approvals for merger with A-I in 1st half of 2024")
Vistara CEO Vinod Kannan on Monday said all legal approvals for its proposed merger with Air India are expected to be in place in the first half of 2024.
In November 2022, Tata group announced the merger of Vistara with Air India under a deal wherein Singapore Airlines will also acquire a 25.1 per cent stake in Air India.
At a briefing here, Kannan said the legal approvals for the merger are expected by the middle of 2024 and the operational merger is anticipated by early or middle of next year.
He also said that all competition approvals are expected in the current quarter ending March. On September 1, 2023, the Competition Commission of India (CCI) approved the proposed merger.
Currently, Vistara has 67 planes in its fleet. The airline is a joint venture between Tatas and Singapore Airlines.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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