Singapore Airlines to invest Rs 3194 crores in Tata Group owned Air India

New Delhi : Singapore Airlines have announced that they will be investing huge sum of Rs 3194 crores in Tata Group led Air India post the merger of Air India and Vistara, which is likely to get completed by November 11, 2024.

With the merger getting completed, Singapore Airlines will have 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.

Tata Group has purchased Air India in January 2022 from the government after 69 years. Post demise of the Shri Ratan Tata, Noel Tata has been appointed to the board of Tata Sons last week; earlier he was the chairman of Tata Trusts, which is the controlling entity of Tata Sons.

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.