Tata-owned Air India begins merger process with Vistara: Report
- ByStartupStory | February 20, 2023
According to reports, Senior executives from both Air India and Vistara along with consultancy major Deloitte have initiated the merger process of the two airlines.
Law firm AZB Partners has been roped in for regulatory and legal compliance, the report added.
The merger needs approvals from competition regulators of countries where both the airlines operate, the report said.
Air India and Vistara had announced a merger last year. As part of the merger with Air India, which the Tata Group acquired in January, SIA will invest Rs 2,059 crore in Air India. Once the transaction is complete, SIA will hold 25.1 percent in Air India.
The merger between the two entities is likely to be a smooth affair because Air India has inducted many former Vistara employees and, more importantly, CEO and MD Campbell Wilson has worked with both SIA and its low-cost carrier Scoot.
The deadline for the merger is March 2024.
Air India recently placed a mega order for 470 aircrafts with Boeing and Airbus as it plans to become a dominant player globally.
Follow Startup Story
Related Posts
