Tata Group revealed plans for a merger between Air India and Vistara, as well as between Air India Express and AirAsia India.
Air India Vistara Merger news
DELHI- Tata Group-owned Air India (AI) and Vistara (UK) have submitted a merger proposal for approval by their creditors. Creditors are scheduled to vote on this proposal on September 23, as indicated in a notice obtained by ET.
Air India (AI), having recently obtained clearance from the CCI (Competition Commission of India) for its merger with Vistara, is now actively seeking approval from competition authorities in Singapore and various other jurisdictions for the proposed merger.
TATA Vistara (UK) is currently conducting aptitude tests for its workforce and has initiated a cultural survey in anticipation of its merger with Air India (AI).
The Competition Commission of India has granted approval for the merger of Vistara (UK) Airlines into Air India (AI), as well as the acquisition of specific shareholding by Singapore Airlines (SQ) in Air India.
In anticipation of the impending merger between Air India and Vistara later this year, the Tata Group has taken steps to integrate the two airlines’ operations.
Tata-owned Air India (AI), often criticized for its crumbling seats, broken armrests, and dysfunctional seat-back entertainment screens, is now undergoing a massive repair and revamp exercise following the Tata takeover in January last year.
Air India CEO Campbell Wilson responded on Friday, July 7, to recent reports concerning the proposed merger between Air India and Vistara.
Tata group-owned Air India (AI) and Vistara (UK) have informed the Competition Commission of India (CCI) that their merger will not negatively affect competition in the aviation sector.
India’s fair-trade regulator, CCI, has issued a show-cause notice to Tata group-backed Air India (AI), demanding an explanation for its proposed merger with Vistara (UK).