Singapore Airlines To Infuse Rs 3,195 Crore In Air India After Vistara Merger
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1 month, 1 week ago

Singapore Airlines To Infuse Rs 3,195 Crore In Air India After Vistara Merger

ABP News  

Singapore Airlines is set to invest additional funds of Rs 3,194.5 crore in Air India after the merger of Vistara in November. The merger will be completed on November 11, 2024 and will end up in Singapore Airlines controlling a 25.1 per cent stake in the enlarged Air India, reported PTI. Considering the merger, Singapore Airlines Group on Friday said that the deal includes 49 per cent interest in Vistara and Rs 2,058.5 crore in cash in exchange for a 25.1 per cent share in the new entity. The official release noted that the deal includes an agreement for SIA to contribute any share of the funding previously shared by Tata ahead of merger completion, along with relevant funding costs up to Rs 5,020 crore that would permit it to maintain 25.1 per cent stake in Air India.

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