India's antitrust body allows Tata SIA merger with Air India
India’s antitrust body has approved the merger of Tata SIA Airlines – operating as Vistara – with Air India, the regulator said on Friday (Sep 1) in a post on social media platform X, while allowing Singapore Airlines to also acquire shares in the newly formed entity.
The Competition Commission of India (CCI) had been scrutinising the deal, announced last November, and had flagged concerns that the merged entity could have a monopoly in the domestic market.
The CCI said its initial review showed the market share of the Tata Group could be more than 50 per cent in at least seven domestic markets, raising competition concerns, sources told Reuters last month.
Air India did not immediately respond to a Reuters request for comment.
Air India’s merger with Vistara, a joint venture between Tata and Singapore Airlines, will pose a challenge to local rival and market leader IndiGo. REUTERS
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Emerging-market optimism dashed by Fed as currencies, bonds sink
LHN warns H1 2024 net profit could decline by 28.6%
iPhone maker Hon Hai’s April sales rise 19% in positive signal
Worsening weather is igniting a US$25 billion market
TikTok tells advertisers: ‘We are not backing down’
EV automakers get reprieve in US tax credit rules