NCLT Approves Air India-Vistara Merger
AVIATION & AIRPORTS

NCLT Approves Air India-Vistara Merger

The National Company Law Tribunal (NCLT) has approved the merger of Tata Sons-owned Air India and Vistara airlines, a significant step towards creating one of the world?s largest airline groups. This decision, announced on June 6, 2024, enables the airlines to begin integrating their staff, resources, and fleets, with an aim to complete the merger by the end of 2024.

First announced in November 2022, the merger will absorb Vistara, which is 49% owned by Singapore Airlines (SIA). Post-merger, SIA will hold a 25.1% stake in the combined entity. The consolidation aims to make Air India the largest international carrier and the second-largest domestic carrier in India. The merged airline will operate a combined fleet of 218 aircraft.

The merger has received all necessary approvals, including from the Competition Commission of India and the Directorate General of Civil Aviation. Additionally, the NCLT?s order mandates that all formalities, including Foreign Direct Investment approvals and security clearances, be completed within nine months.

Campbell Wilson, CEO of Air India, highlighted that this merger is part of a broader transformation strategy at Air India, which includes the retrofitting of over 100 planes and the order of 470 new jets from Airbus and Boeing. The airline is also focused on enhancing customer experience through fleet optimization and potential new partnerships.

The National Company Law Tribunal (NCLT) has approved the merger of Tata Sons-owned Air India and Vistara airlines, a significant step towards creating one of the world?s largest airline groups. This decision, announced on June 6, 2024, enables the airlines to begin integrating their staff, resources, and fleets, with an aim to complete the merger by the end of 2024. First announced in November 2022, the merger will absorb Vistara, which is 49% owned by Singapore Airlines (SIA). Post-merger, SIA will hold a 25.1% stake in the combined entity. The consolidation aims to make Air India the largest international carrier and the second-largest domestic carrier in India. The merged airline will operate a combined fleet of 218 aircraft. The merger has received all necessary approvals, including from the Competition Commission of India and the Directorate General of Civil Aviation. Additionally, the NCLT?s order mandates that all formalities, including Foreign Direct Investment approvals and security clearances, be completed within nine months. Campbell Wilson, CEO of Air India, highlighted that this merger is part of a broader transformation strategy at Air India, which includes the retrofitting of over 100 planes and the order of 470 new jets from Airbus and Boeing. The airline is also focused on enhancing customer experience through fleet optimization and potential new partnerships.

Next Story
Infrastructure Urban

CONCOR Launches Double-stack Service Between NCR and Varnama

State-run Container Corporation of India (CONCOR) has launched double-stack container train services between the National Capital Region (NCR) and Varnama near Baroda. This initiative aims to facilitate customers at Nhava Sheva near Mumbai, home to Jawaharlal Nehru Port (J N Port). On December 21, the first double-stack container train from Khatuwas and Dadri in NCR reached CONCOR’s Gati Shakti Multimodal Cargo Terminal (GCT) at Varnama, situated along the Western Dedicated Freight Corridor (WDFC). The train carried export cargo destined for J N Port, according to a statement from the state..

Next Story
Infrastructure Transport

Less than 10% of Rs 40 Billion State-aid for Shipbuilding Utilised

A government-sanctioned financial assistance program worth Rs 40 billion, intended to support local shipbuilders over a decade starting in April 2016, has seen minimal utilisation, with only Rs 3.85 billion—less than 10 per cent of the total fund—disbursed thus far. With 15 months remaining before the scheme concludes, its uptake has been limited. The financial aid applies to shipbuilding contracts signed between April 1, 2016, and March 31, 2026. According to a written response provided by Union Minister of Ports, Shipping, and Waterways Sarbananda Sonowal to the Rajya Sabha on December ..

Next Story
Infrastructure Transport

Civil Aviation Minister Opens New ATC Tower at Indore Airport

The Minister for Civil Aviation, Ram Mohan Naidu Kinjarapu, inaugurated the new Air Traffic Control (ATC) Tower-cum-technical block at Devi Ahilyabai Holkar International Airport in Indore, Madhya Pradesh. During the inauguration, the minister toured the facility, where ATC experts explained various technical aspects of tracking and coordinating flights from the newly constructed tower. In addition to the ATC tower, the airport has also introduced a zero-waste plant. The union minister confirmed that this initiative aligns with the government’s commitment to sustainability. Minister Ki..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000