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01-01-1970 12:00 AM | Source: Reuters
Singapore Airlines to secure Air India stake under deal with Tata
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Singapore Airlines Ltd (SIA) said on Tuesday it would emerge as a 25.1% owner of Air India as part of a deal that would merge its Vistara full-service airline joint venture with Tata Sons into India's national carrier.
SIA will invest $250 million into Air India as part of the transaction, the Singaporean carrier said in a statement, with the pair aiming to complete the merger by March 2024 subject to regulatory approvals.
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