Singapore Airlines Ltd (SIA) mentioned on Tuesday it could emerge as a 25.1% proprietor of Air India as a part of a deal that may merge its Vistara full-service airline three way partnership with Tata Sons into India’s nationwide service.

SIA will make investments $250 million into Air India as a part of the transaction, the Singaporean service mentioned in a press release, with the pair aiming to finish the merger by March 2024 topic to regulatory approvals.