Proposed Acquisition by Talace Private Limited of Air India Limited

Parties Involved

• Singapore Airlines Limited

• Tata SIA Airlines Limited

• Air India Limited

Focus of Commitments/ Remedies

The capacity commitments apply to Air India Limited (“Air India”), Tata SIA Airlines Limited (“Vistara”) and Singapore Airlines Limited (“SIA”) in view of:

(i)   Talace Private Limited’s (“Talace”) acquisition of all shares and voting rights of Air India from the Government of India, along with Air India’s shareholding interest of 100% in the equity share capital of Air India Express Limited and 50% in the equity share capital of Air India SATS Airport Services Private Limited; and

(ii)   The subsequent agreement between Air India, Talace, Tata Sons Private Limited, Vistara and SIA dated 29 November 2022 resulting in the Proposed Merger (i.e., the formation of the Enlarged AI Group and SIA acquiring a 25.1% stake in the Enlarged AI Group).

The capacity commitments preserve the state of competition on these four routes (Singapore-Mumbai, Singapore-New Delhi, Singapore-Chennai and Singapore-Tiruchirappalli routes) by alleviating any concern that the price and capacity coordination between the parties arising from the confluence of the transactions would significantly restrict competition on the affected routes.

Start Date of Commitments/ Remedies

5 March 2024 for Tata SIA Airlines Limited and Air India Limited

12 November 2024 for Singapore Airlines Limited

End Date of Commitments/ Remedies

 No end date specified