Singapore Airlines Secures FDI Approval for Air India-Vistara Merger; Completion Expected by Year-End

Singapore Airlines has received the Indian government’s approval for foreign direct investment (FDI) in the planned merger with Air India. The approval facilitates Singapore Airlines’ acquisition of a 25.1% stake in the expanded Air India, with the merger anticipated to be finalized by the end of 2024. Currently, Air India is owned by the Tata Group, while Vistara is a joint venture between Tata and Singapore Airlines. The merger, which will create a major airline conglomerate, was greenlit by the National Company Law Tribunal (NCLT) in June and has already received conditional approvals from Singapore’s CCCS and the Competition Commission of India (CCI). Singapore Airlines indicated that while the merger’s finalization is on track, discussions are underway to extend the original completion date of October 31, 2024. The airline will update stakeholders with any significant developments or upon the merger’s completion.