Updated May 15th, 2024 at 21:50 IST

Air India-Vistara merger awaiting foreign direct investment, necessary approvals: Singapore Airlines

The airlines’ merger will bolster its multi-hub strategy and enable continued direct participation in the Indian aviation market, it said.

Reported by: Business Desk
Air India Indian aviation | Image:Air India
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On heels of merger: Air India-Vistara merger awaiting foreign direct investment, necessary approvals: Singapore Airlines Singapore Airlines Group has said that the proposed merger between Air India and Vistara is awaiting approvals for foreign direct investment (FDI) and other necessary regulatory consents. 
The airlines’ merger will bolster its multi-hub strategy and enable continued direct participation in the rapidly expanding Indian aviation market. 
The group reported a net profit increase of 24 per cent, amounting to SGD 2,675 million for the fiscal year 2023-24, driven by strong air travel demand. In a statement, the group highlighted that it has achieved the highest full-year operating and net profits in its history, with record passenger revenue and load factors propelled by robust demand for air travel. 

(With PTI inputs) 

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Published May 15th, 2024 at 21:50 IST