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Tata Group’s Air India, which has decided to acquire Air Asia, has applied to the Competition Authority of India (CCI) for approval.
Tata Group holds 83.67 per cent stake in Air Asia Airlines, which was launched in 2014, while the remaining stake is held by Malaysia’s Air Asia Investment.
In this case, the Tata Group will buy Air Asia Airlines outright by paying for the remaining shares.
In a petition filed with the Competition Authority of India, the Tata Group said it had decided to acquire the entire stake in Air Asia, which it indirectly manages, and run it under the name Air India.