SA to invest additional Rs 3,195 cr in Air India post-Vistara merger

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SA to invest additional Rs 3,195 cr in Air India post-Vistara merger - Business Standard

Quick Summary:

Singapore Airlines (SIA) Group on Friday said its consideration for the merger comprises the 49 per cent interest in Vistara and Rs 20,585 million (Rs 2,058.5 crore) in cash in exchange for a 25.1 per cent equity interest in the enlarged Air India.

The merger, announced on November 29, 2022, and set to be completed on November 11, 2024, will result in Singapore Airlines having a 25.1 per cent stake in the enlarged Air India.

Full-service carrier Vistara, which started flying on January 9, 2015, is a joint venture between Tatas and Singapore Airlines, where the latter holds a 49 per cent shareholding.