The NCLT's Chandigarh bench has officially approved the merger of Air India and Vistara, marking a significant step toward the establishment of a major airline group. Upon completion of the merger, the combined Air India-Vistara entity will become India's largest international carrier as well as the second-largest domestic carrier, boasting a combined fleet of 218 aircraft.
The merger scheme, which involves Talace, Air India, and Vistara - all part of the Tata Group - has received approval from the National Company Law Tribunal (NCLT). Singapore Airlines,
a key player in this consolidation, is set to hold a 25.1 per cent stake in Air India following the merger. Notably, Vistara, a joint venture between Singapore Airlines and Tata Group, will be dissolved without undergoing the winding-up process after the merger is completed, subject to necessary approvals and security clearances within a nine-month timeframe from the date of the order.
Furthermore, the order sets a deadline for the companies to secure the necessary FDI approval from Singapore Airlines and obtain security clearances from DGCA/MOCA within nine months from the order date.
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