New Delhi, 29/11: Tata Group is merging Air India with Vistara, its joint venture with Singapore Airlines (SIA), to create a bigger full-service carrier that will strengthen its presence in domestic and international skies.
Autos-to-steel conglomerate Tata will hold 74.9 per cent of the combined entity, while SIA will own the remaining 25.1 per cent, the Indian group said in a statement on Tuesday.
SIA will invest $252 million into Air India as part of the deal, Tata said, with the pair aiming to complete the merger by March 2024, subject to regulatory approvals.