47
Tata-owned Air India has decided to merge with its subsidiary Air Asia India.
Air India, which was nationalized in 1953, was formally withdrawn by Tata last January after 69 years. Tata, meanwhile, holds 83.67 per cent 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 4 airlines. With this Air India, Air India Express. Vistara, Air Asia India and Air India Airport Service Pvt.
Also read: ‘Will you not put on Carla Pona helmet’ Controversy over traffic police fined