Singapore Airlines will acquire 25 per cent share in Air India. The move was induced after Singapore Airlines announced its plans to invest $267 million in the Tata-owned airline, news agency ANI reported. On Monday, following its recent merger with Vistara, Air India’s chief executive officer, Campbell Wilson, said that the full carrier service will be known as Air India.
The merger with Air India will help strengthen Singapore Airline’s reach in India market and will also allow it to compete in the expanding aviation sector.
"The merged entity will be four to five times larger in scale compared to Vistara, with a strong presence in all key airline segments in India. The proposed merger will bolster SIA's presence in India, strengthen its multi-hub strategy, and allow it to continue participating directly in this large and fast-growing aviation market,"as per a statement issued by Singapore Airlines.
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Moreover, it also added, Singapore Airline’s partnership strategy supports collaboration with like-minded airlines which in turn helps the airline to have more traffic at their hubs, enhance the airline’s footprint in global market and provide varied options to its customers.
Air India signed the merger with Singapore Airlines in November 2022. According to Air India’s chief executive officer, the deal is currently awaiting approval of the Competition Commission of India (CCI).
On February 14, Air India had announced its record-breaking deal of acquiring 470 planes, including 70 wide-body aircrafts. The order consisted of 250 aircrafts from Airbus and additional 220 planes from Boeing.
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