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Vistara to merge with Air India, says Singapore Airlines
SIA will invest $250 million into Air India as part of the transaction, the carrier said in a statement, with the pair aiming to complete the merger by March 2024
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Singapore Airlines Ltd (SIA) said on Tuesday it would emerge as a 25.1 per cent owner of Air India as part of a deal that would merge its Vistara full-service airline joint venture with Tata Sons into India's national carrier.
SIA will invest $250 million into Air India as part of the transaction, the Singaporean carrier said in a statement, with the pair aiming to complete the merger by March 2024 subject to regulatory approvals.
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