Vistara hopeful of legal clearances for AI merger by mid 2024

The top management at full-service air carrier Vistara is hopeful that all legal approvals for its proposed merger with Air India are completed in the first half of 2024. Vistara CEO Vinod Kannan, addressing a media call on Monday, said legal approvals for the merger are expected by the middle of 2024 and the operational merger is anticipated by early or middle of next year.

In November 2022, Tata group announced the merger of Vistara with Air India under a deal wherein Singapore Airlines will also acquire a 25.1 per cent stake in Air India. He also said that all competition approvals are expected in the current quarter ending March. On September 1, 2023, the Competition Commission of India (CCI) approved the proposed merger. Currently, Vistara has 67 planes in its fleet. The airline is a joint venture between Tatas and Singapore Airlines. 

Vistara also remains optimistic about receiving its final Boeing 787 wide-body jet by March or April, despite a recent incident involving a Boeing 737 MAX 9 aircraft. Kannan, stated this during the media call, adding that the company aims to have a fleet of 70 aircraft by March or April 2024, ahead of their previous timeline of the end of 2024.

(With PTI, Reuters inputs)