Active Stocks
Fri Apr 19 2024 15:56:00
  1. Tata Steel share price
  2. 162.10 1.31%
  1. Tata Motors share price
  2. 963.20 -0.84%
  1. NTPC share price
  2. 350.90 -0.14%
  1. ITC share price
  2. 424.80 1.40%
  1. Power Grid Corporation Of India share price
  2. 281.70 0.54%
Business News/ Companies / News/  Singapore's competition watchdog grants conditional approval to Air India-Vistara merger
BackBack

Singapore's competition watchdog grants conditional approval to Air India-Vistara merger

Singapore's competition watchdog grants conditional approval to Air India-Vistara merger

Air India Airbus A350. (Photo: ANI)Premium
Air India Airbus A350. (Photo: ANI)

Singapore's competition watchdog said on Tuesday it has granted approval for the merger between Air India and Vistara, a joint venture between Indian conglomerate Tata Group and Singapore Airlines, subject to certain conditions.

Singapore's flagship carrier had announced its plan to merge Vistara and Air India in November 2022, in a bid to create a dominant position as bigger full-service airline in domestic and international skies.

The Competition and Consumer Commission of Singapore has identified certain competition concerns in assessing the various transactions regarding the merger.

The watchdog said the parties possess the majority of market shares among airlines operating direct flights on four routes of concern — that is between Singapore and Indian cities of New Delhi, Mumbai, Chennai and Tiruchirapalli.

The watchdog said the respective parties have submitted their proposals to avoid the competition issues which it finds sufficient to address the concerns.

Singapore Airlines and Air India did not immediately respond to a Reuters request for comments.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 05 Mar 2024, 04:08 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App