In what clearly comes across as a major development in the Indian aviation space, it is likely that Air India and Vistara shall merge in the imminent future to become a singular entity.
A month earlier, the present CEO of Vistara, Mr. Vinod Kannan had shared in no uncertain terms: “We expect a complete merger in a smooth manner.”
Furthermore, it is important to note that the same Mr. Kannan happen to be the Chief Integration Officer of the proposed merger.
Having said that, in lines with the above the chiefs of Air Vistara and Air India are expected to meet not later than May 13, which if you think about it, is in just a few hours from now to address their respective staffs about the mega development.
After all, the merger of two leading air carries is mega news, is it not? But what else does one know about this huge business deal? To that end, it is important to note that the merger of Vistara and Air India is taking place under a deal wherein the Singapore Airlines shall acquire no fewer than 25.1 stake in Air India. The same was announced way back in 2022 towards the year end.
That told, recognised economic and business news publication based in India, Business Standard, happened to elucidate some important details with regards to the forthcoming merger and shared the following:
The townhall meeting will be held in the phygital mode and employees from Air India and Vistara will be present. The meeting will be addressed by Air India CEO and MD Campbell Wilson and Vistara CEO Vinod Kannan, one of the officials said on Friday.
Important to note that in its current capacity, while Air India has around 15,000 staff, Vistara, on the other hand has a current staff strength of around 6,500 individuals (approximately).
Having said that, where it comes to the proposed merger, the same is awaiting a nod of approval from the National Company Law Tribunal in India, also known as the NCLT.
