Vistara-Air India Merger To Take Place On 12 November
Singapore Airlines receives FDI approval, to hold 25.1 per cent stake in the merged entity; bookings for Vistara are to cease from September 3
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Vistara will merge with Tata-owned Air India on 12 November. On Friday, Singapore Airlines revealed that it has received approval from the Indian government for foreign direct investment as part of the merger.
Vistara is a joint venture between Air India and Singapore Airlines (SIA). Following the merger, SIA will hold a 25.1 per cent stake in Air India. The merger was first reported in November 2022 and received approval from the National Company Law Tribunal (NCLT) in June this year. On 10 August, both airlines obtained CAR 145 approval from the Directorate General of Civil Aviation (DGCA) to integrate their aircraft line maintenance operations.
In an official statement, Vinod Kannan, Chief Executive Officer of Vistara, said, “We are immensely grateful to all our customers for their support and patronage over the last 10 years. As we progress further in our growth journey, we want to emphasize that this merger is about offering them more choice with a larger fleet and a wider network, while elevating the overall travel experience. Vistara and Air India are committed to ensuring that this transition is smooth and hassle-free. We are excited about this new phase in our journey and look forward to welcoming our customers again soon - as Air India.”
As per Tata SIA Airlines, customers will no longer be able to book flights with Vistara starting from 3 September.
"Starting 03 September 2024, customers will, progressively, no longer be able to make bookings with Vistara for travel on or after 12 November 2024," the company said.
Vistara will continue accepting bookings and operating flights as usual until 11 November 2024. After that, Air India will operate all Vistara aircraft with bookings for these routes redirected to Air India’s website.
"The joint team looks forward to offering our guests an expanded network, additional flight options, an enhanced frequent flyer program, and the best of both antecedent airlines", stated Campbell Wilson, Chief Executive Officer & Managing Director, of Air India.
