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India authorizes Air India-Vistara merger

Favorable order from the National Company Law Tribunal

The merger between the Indian airlines Vistara and Air India has been approved. The favorable order arrived in the last few hours from the national commercial court of the Asian country. This is a further step that brings both Tata Group companies closer to completing the merger agreement.

"Sanction is hereby granted to the composite scheme of arrangement between the appellant companies and their respective shareholders", on reads in the order of the National Company Law Tribunal (NCLT) of India. The court had earlier ruled that Air India had to complete the merger within nine months, but this is expected to be done by the end of the year. 

The Vistara-Air India merger project was first announced in November 2022. The Vistara company is a joint venture between the Indian Tata Group (which controls 100% of Air India) and the airline Singapore Airlines which controls 49% of Vistara. When the latter is absorbed by Air India, Singapore Airlines will retain a 25.1% stake in the merged entity. 

On the same topic, see also the article published by AVIONEWS.

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AVIONEWS - World Aeronautical Press Agency