Singapore Airlines:
Singapore Airlines has received approval from the Indian government for Foreign Direct Investment (FDI). This move is a significant step towards the merger of Air India and Vistara. With this merger, Air India will become one of the largest airline groups in the world. Singapore Airlines will hold a 25.1% stake in the merged entity.

FDI Approval from Indian Government:
Singapore Airlines (SIA) announced on Friday that it has received FDI approval from the Indian government. The merger is expected to be completed by the end of this year. This merger was announced in November 2022. Tata Group owns Air India, while Vistara is a joint venture between Tata Group (51%) and Singapore Airlines (49%).

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Merger Progress:
Singapore Airlines stated in a regulatory filing on the Singapore Stock Exchange that this approval is a major success for the merger. The merger of Air India and Vistara is progressing well. The FDI approval has made the process smoother, and the goal is to complete the merger by December 2024.

Approval from NCLT and CCI:
The merger was originally set to be completed by October 31, 2024, but has been delayed for various reasons. A new date will be announced soon. The merger received approval from the National Company Law Tribunal (NCLT) in June and from Singapore’s Competition Commission (CCCS) in March. The Competition Commission of India approved it in September 2023. Singapore Airlines said a major announcement about the merger will be made soon.