Vistara to merge with Air India from November 12
The Hindu
Vistara to merge with Air India on November 12, bookings redirected to Air India's website, Tata to hold majority stake.
Vistara will merge with Air India from November 12, when its operations will be carried out by Air India and all bookings will be redirected to Air India’s website.
Starting September 3, passengers will no longer be able to book tickets with Vistara for travel on or after November 12.
These details were shared in an email from Vistara’s CEO Vinod Kannan to the airline’s employees.
The announcement followed soon after Singapore International Airlines sharing an update on the merger and informing in a press statement that the Indian government had given its nod for its FDI into Air India.
On June 6, the NCLT in an order granted its approval for the merger and allowed a period of nine months for the dissolution of the former. Vistara’s flying permit from the Director General Civil Aviation (DGCA) expires in December 2024.
Tata Sons Pvt. Ltd. will hold 73.38% stake in the merged entity, and Singapore Airlines another 25.1%.
“This approval, along with other governmental and regulatory approvals received to-date, marks a significant development towards the completion of the merger,” the SIA said in a statement.
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