Vistara set to merge with AI as Cabinet to decide on FDI
Saurabh.Sinha@timesofindia.com
New Delhi : The final nod for Vistara’s merger into Air India could come on Saturday when the Cabinet clears the foreign direct investment (FDI) by Singapore Airlines (SIA) into AI. SIA, which is 49% shareholder in Vistara, will get 25.1% stake in the merged airline by investing Rs 2,059 crore in it, a move that requires govt nod. FDI approval is the last remaining clearance for the merger as all other approvals from agencies ranging from DGCA to Competition Commission of India are already in place.
Tatas will have remaining 74.9% stake in AI. After govt FDI nod, AI-Vistara will shortly communicate timelines of the merger to passengers. People who have booked tickets on Vistara flights post the date of merger will be informed that they will fly Air India, along with the changed flight number of AI and its time. Sources said the date of merger is likely to be after Diwali as the airline will avoid taking any chances during the peak festive travel season
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