CCI approves merger of Vistara into Air India
Tata SIA Airlines into Air India, subject to certain conditions.
The long pending merger of fully owned Tata airline Air India and sister airline Vistara, came through weeks after the watchdog raised concerns about market power.
The CCI was scrutinising the planned merger of Air India, which Tata Group took over last year, with Vistara, a 51: 49 joint venture between Tata and Singapore Airlines.
The merged airline may pose a challenge to local rival and market leader, IndiGo. The said consolidation will make Air India, 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, the airline said in an announcement relating to the merger.
«As part of the merger transaction, SIA shall also invest Rs 2,059 crore in Air India.
