Tata Group merges Air India and Vistara airlines

Indian conglomerate Tata Group announced that it will merge Vistara Airlines, a joint venture with Air India and Singapore Airlines (Sia), to strengthen its domestic and international airline network and create a major carrier.

Meanwhile, the Tata conglomerate, a car and steel manufacturer, owns 74.9 percent of the joint venture, while Sia owns the remaining 25.1 percent.

It is worth noting that the deal could create a strong competitor to India's big airline IndiGo and lay the groundwork for Singapore Airlines, which does not have enough domestic market share, to gain a foothold in one of the fastest-growing aviation markets in the world.

P.S. IndiGo, India's largest passenger airline, was founded in 2006 with a 56.7 percent market share as of October of this year. Air India, India's largest international carrier, is the second largest local airline.