NEW DELHI: The ultimate nod for Vistara‘s merger into Air India may come on Saturday when the Cupboard clears the international direct funding (FDI) by Singapore Airways (SIA) into AI. SIA, which is 49% shareholder in Vistara, will get 25.1% stake within the merged airline by investing Rs 2,059 crore in it, a transfer that requires govt nod.
FDI approval is the final remaining clearance for the merger as all different approvals from companies starting from DGCA to Competitors Fee of India are already in place.Tatas can have remaining 74.9% stake in AI. After govt FDI nod, AI-Vistara will shortly talk timelines of the merger to passengers. Individuals who have booked tickets on Vistara flights put up the date of merger might be knowledgeable that they may fly Air India, together with the modified flight variety of AI and its time.
Sources stated the date of merger is more likely to be after Diwali because the airline will keep away from taking any probabilities in the course of the peak festive journey season.
FDI approval is the final remaining clearance for the merger as all different approvals from companies starting from DGCA to Competitors Fee of India are already in place.Tatas can have remaining 74.9% stake in AI. After govt FDI nod, AI-Vistara will shortly talk timelines of the merger to passengers. Individuals who have booked tickets on Vistara flights put up the date of merger might be knowledgeable that they may fly Air India, together with the modified flight variety of AI and its time.
Sources stated the date of merger is more likely to be after Diwali because the airline will keep away from taking any probabilities in the course of the peak festive journey season.
