Air India English news | Air India, Latest News & Live Updates in English | English News (Latest English News) at Lokmattimes.com

The Tata Group on Tuesday announced the merger of its two airlines Vistara and Air India. With this consolidation, Air India will be India's leading domestic and international carrier with a combined fleet of 218 aircraft, making it India's largest international carrier and second-largest domestic carrier.Vistara shall be merged with Air India post-receipt of requisite approvals. As part of the merger transaction, SIA shall also invest Rs 2,059 crore in Air India. Post the consolidation, SIA shall hold 25.1 per cent shareholding in Air India. The transaction is estimated to be completed by March 2024.Air India, an airline fully-owned by Tata Sons, has been the flag carrier of India. Tata Sons, via its fully-owned subsidiary Talace Private Limited or Talace, had acquired 100 per cent stake in Air India on January 27, 2022.Vistara, a 51:49 joint venture between Tata Sons and Singapore Airlines Limited (SIA), had been established in 2013 and is India's leading full-service carrier with international operations in Middle East, Asia and Europe.On this occasion, N Chandrasekaran, Chairman, Tata Sons, said: "The merger of Vistara and Air India is an important milestone in our journey to make Air India a truly world-class airline. We are transforming Air India, with the aim of providing great customer experience, every time, for every customer. As part of the transformation, Air India is focusing on growing both its network and fleet, revamping its customer proposition, enhancing safety, reliability, and on-time performance."The Chairman added, "We are excited with the opportunity of creating a strong Air India which would offer both full-service and low-cost service across domestic and international routes. We would like to thank Singapore Airlines for their continued partnership."Goh Choon Phong, Chief Executive Officer, Singapore Airlines, said: "Tata Sons is one of the most established and respected names in India. Our collaboration to set up Vistara in 2013 resulted in a market-leading full-service carrier, which has won many global accolades in a short time.""With this merger, we have an opportunity to deepen our relationship with Tata and participate directly in an exciting new growth phase in India's aviation market. We will work together to support Air India's transformation programme, unlock its significant potential, and restore it to its position as a leading airline on the global stage," the CEO said.( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Air IndiaFOLLOW

Air india, Latest News

Flag carrier Air India has announced plans to refurbish its entire legacy of widebody fleet, comprising 27 Boeing B787-8 ... ...

New Delhi, Dec 8 Moving ahead on the transformation program, Air India on Thursday announced plans to refurbish ... ...

New Delhi, Dec 5 Air India on Monday announced the lease of six Airbus A320neo narrow body aircraft ... ...

New Delhi, Dec 2 Air India on Friday announced that its maiden batch of cabin crew trainees and ... ...

Evening flights starts Aurangabad:Evening flight service to Mumbai finally started from Aurangabad from Thursday. On the first day, the ... ...

The Tata Group on Tuesday announced the merger of its two airlines Vistara and Air India. With this consolidation, ... ...

Tata Sons and Singapore Airlines to merge Air India and Vistara by March 2024.Singapore Airlines Ltd (SIA) on Tuesday ... ...