NEW DELHI (AP) — India’s oldest and largest conglomerate, Tata Sons, will merge its Air India with Vistara, a carrier it jointly runs with Singapore Airlines, in a major step toward revamping the country’s debt-laden national carrier. Singapore Airlines said in a statement that it will invest $250 million in Air India as part of the deal, taking a 25.1% stake in the group. The rest will be owned by the Tata Group. The merger is expected to bolster Tata’s competitive position in the market against IndiGo, the country’s dominant carrier. Both companies aim to complete the merger by March 2024, subject to regulatory approvals.
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