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Tata-owned Air India has decided to merge with its subsidiary Air Asia (India).
Tata Motors formally recalled Air India in January 1953, 69 years after it was nationalized in 1953. Tata, meanwhile, holds 83.67% stake in Air Asia India. The remaining shares are held by Air Asia Investment, a subsidiary of Malaysia’s Air Asia Group.
In this context, Tata is in the process of merging four airlines. Through this, Air India, Air India Express, Vistara, Air Asia India and Air India Airports Service Pvt.