2024 TARGET FOR AIR INDIA AND VISTARA MERGER

NEW DELHI: Singapore Airlines Ltd ( SIA) said on Tuesday it would emerge as a 25.1% 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.