Singapore Airlines might soon be part owner of two Indian airlines: Air India and Vistara. Or maybe not.
SIA confirmed this week that "confidential discussions" are ongoing with the Tata group to merge Vistara and Air India, Travel Mole reported.
Singapore Airlines currently has a 49% joint venture stake in Vistara with Tata, while Tata owns Air India outright. Tata also has 84% ownership in AirAsia India.
The Tata Group is an Indian multinational conglomerate based in Mumbai. Established in 1868, it is India's largest company with products and services in over 150 countries
“The discussions seek to deepen the existing partnership between SIA and Tata, and may include a potential integration of Vistara and Air India,” SIA said in a filing to the Singapore Stock Exchange.
“There is no certainty or assurance whatsoever that any definitive agreement will be entered into.
“Even if a transaction were to materialise, it would be subject to the relevant regulatory approvals.”
Tata Group has long sought to integrate AirAsia India and Vistara into Air India.
Vistara began operations in 2015. It gave the SIA Group a foothold in India’s fast-growing aviation industry and it is believed it may wish to transfer it into Tata’s integrated airline business.
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