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CCI approves merger of Tata SIA Airlines into Air India, and acquisition of certain shareholding by Singapore Airlines in Air India

Newdelhi: 1/9/23 The Competition Commission of India (CCI) has approved the merger of Tata SIA Airlines into Air India, and the acquisition of certain shareholding by Singapore Airlines in Air India subject to compliance with voluntary commitments offered by the parties.

The proposed combination envisages (a) the merger of Tata SIA Airlines Limited (TSAL/Vistara) into Air India Limited (AIL/Air India), with AIL being the surviving entity (Merged Entity) and (b) in consideration of the merger, the acquisition of shares in the Merged Entity by Singapore Airlines Limited (SIA) and Tata Sons Private Limited (TSPL) and (c) acquisition of additional shares in the Merged Entity by SIA pursuant to a preferential allotment.

TSPL is an investment holding company, which is registered as a core investment company with the Reserve Bank of India and classified as a Systemically Important Non-Deposit Taking Core Investment Company. TSPL (through Talace Private Limited) completed the acquisition of AIL on 27 January 2022.

AIL (including its wholly owned subsidiaries Air India Express Ltd. and AIX Connect Private Limited), is engaged in the business of providing (a) domestic scheduled air passenger transport service, (b) international scheduled air passenger transport service (AIX Connect Private Limited does not provide this service), (c) air cargo transport services; and (d) charter flight services.

TSAL is a joint venture between TSPL and SIA, with TSPL and SIA holding 51% and 49% of the total shareholding, respectively. TSAL operates under the brand name Vistara”. TSAL is engaged in the business of providing the following services: (a) domestic scheduled air passenger transport service, (b) international scheduled air passenger transport service, (c) air cargo transport services; and (d) charter flight services (domestic and international).

SIA is the parent entity for the SIA group of companies (SIA Group). SIA is engaged in the business of passenger and cargo air transportation, and the principal activities of the SIA Group consist of passenger and cargo air transportation, engineering services, training of pilots, air charters, tour activities, sale of merchandise, and related activities.

The CCI approved the proposed combination subject to compliance with voluntary commitments offered by the parties.

 

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.
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