Air India Now after purchasing TATA Sons, Trying to buy another airline company. It is being told that the government of Sri Lanka, which is facing financial crisis, is planning to launch its country’s airlines Sri Lanka Airlines (Srilanka Airlines) is considering to hand over to private hands. The government’s activity in this regard has increased significantly. The government is in talks with companies to hand over the airlines to private hands. Tatasons, Adani Group in the race to buy Sri Lanka AirlinesAdani Groups), Emirates (EK, Dubai International), etc. It is understood that Tata is leading in the race for these names. However, no information has been given by the Sri Lankan government or Tata about the level of talks.
Tata has airline experience
According to a report, there has been a continuous increase in air traffic between India and Sri Lanka in recent times. In view of this, Sri Lankan Airlines is planning to increase its service between Colombo and Thiruvananthapuram in the coming days. Along with this, it is trying to maintain its 10 times weekly flights to Kochi International. Tata Sons, which is in the race to buy Sri Lanka Airlines, already has vast experience in running airlines companies like Air India, Vistara, Air India Express, Air Asia. Whereas, Gautam Adani is already working on many projects with the Sri Lankan government. Gautam Adani had recently met with Sri Lankan President Ranil Wickremesinghe who was visiting India. It is being told that in the meeting, many ongoing projects in Sri Lanka were discussed. However, there was no mention of the airline at that time.
Efforts continue to get approval from foreign competition regulators on Vistara’s merger.
Air India chief Campbell Wilson said that after getting the approval of the Competition Commission of India (CCI) for the merger of the expanding airline, the company is working on the deal to get approval from competition regulators in Singapore and other regions. Tata Group is in the process of consolidating its four airlines into two airlines through merger. Tata Group had acquired loss-making Air India and Air India Express from the government in January last year. Campbell, in his weekly message to employees on Friday, said the CCI’s approval of Vistara’s planned merger with Air India is a welcome and important step towards integrating Tata’s four airlines into two. However, some more work still needs to be done. He said that before finalizing it, we also need approval from competition regulators in some other jurisdictions including Singapore. We are working in this direction.
Working on a plan to strengthen the future airline group
Campbell said that in the meantime we are planning an integration that will make our future airline group stronger. CCI had approved the proposed merger of Air India and Vistara on September 1 with certain conditions. Vistara and Air India are full-service airlines of the Tata Group. Singapore Airlines has a 49 percent stake in Vistara. Tata Group announced its expansion merger with Air India in November last year under a deal in which Singapore Airlines will also acquire 25.1 per cent stake in Air India. Approval for the proposed merger was sought from CCI in April this year. In this, Tata Sons Private Limited (TSPL), Air India Limited, Tata SIA Airlines Limited (TSAL) and Singapore Airlines Limited have become parties. After this deal, Air India will become the country’s largest international airline and second largest domestic airline.