CCI approves Vistara-Air India merger
The HinduThe Competition Commission of India on Friday approved the merger of Vistara with Air India as well as allowed Singapore Airlines to acquire 25.1% stake in the erstwhile national carrier. With this CCI nod, Air India has completed a major regulatory procedure towards becoming a company that comprises four airlines, including AirAsia India and Air India Express apart from Vistara. Vistara will be integrated with Air India to form-the airline’s full-service business, while AirAsia India will be merged with Air India Express to form the group company’s low-cost arm. In June last year, the CCI had approved the full acquisition of AirAsia India by Air India and months later, Tata Sons raised their shareholding from 81.7% to 100% by acquiring the remainder from Malaysia’s AirAsia Aviation Group Ltd. for $18.8 million.