New Delhi: Vistara operations would be merged with Air India from November 12, 2024 further consolidating Tata group's position in Indian skies.
"Starting 03 September 2024, customers will, progressively, no longer be able to make bookings with Vistara for travel on or after 12 November 2024. All Vistara aircraft thereafter will be operated by Air India and bookings for the routes operated by these aircraft will be redirected to Air India’s website," Vistara said in a statement on Friday.
Vistara will continue to take bookings and operate flights as usual till November 11, 2024.
TATA SIA Airlines Limited, known by the brand name Vistara, is a 51:49 joint venture between Tata Sons Private Limited and Singapore Airlines Limited (SIA). Vistara commenced its commercial operations on 9 January 2015.
Tata Sons, via its fully owned subsidiary, Talace Private Ltd had acquired 100% stake in Air India on 27th January 2022.
Tata group had in November 2022 announced merger of Vistara and Air India. As part of the merger deal, Singapore Airlines was required to invest Rs 2,059 crore in Air India following which it will hold 25.1% stake in Air India.
Vistara's announcement to shift its operation to Air India has come days after the Union Cabinet cleared the foreign direct investment (FDI) by Singapore Airlines into Air India.
"The FDI approval, together with anti-trust and merger control clearances and approvals, as well as other governmental and regulatory approvals received to-date, represent a significant development towards the completion of the proposed merger," Singapore Airlines had said in filing to Singapore Stock Exchange today.
It further said, "At this juncture, completion of the proposed merger is anticipated to occur by the end of 2024. Accordingly, the parties are in discussions to extend the Long Stop Date (previously indicated as 31 October 2024 for completion of the Proposed Merger) to accommodate the latest expected transaction completion date. SIA will make the necessary announcement(s) upon completion of the Proposed Merger or in the event that there are other significant developments."
Commenting on Vistara's merger with Air India, Campbell Wilson, Chief Executive Officer & Managing Director, Air India said, “Cross-functional teams from Air India and Vistara have been working together for many months to make the transition of aircraft, flying crew, ground-based colleagues and, most importantly, our valued customers, into the new Air India as seamless as possible."
Vinod Kannan, Chief Executive Officer, Vistara added, "Vistara and Air India are committed to ensuring that this transition is smooth and hassle-free. We are excited about this new phase in our journey and look forward to welcoming our customers again soon – as Air India.”
