SIA and Tata aim to complete the merger by March 2024, subject to regulatory approvals, which would see SIA emerge from the process with a 25.1% stake in the group.
Tata currently owns Air India outright, which also operates low-cost subsidiaries Air India Express and AirAsia India, and a 51% stake in Vistara. Vistara was founded in 2013 as a joint venture between SIA and Tata.
Both parties are also ready to participate in additional capital raising initiatives to fund the group’s operations and growth ambitions over the next two years.
