airasia air india: Tata Group’s Air India plans to acquire Air Asia India, seeking approval from the Competition Authority of India.
New Delhi, First Published Apr 27, 2022, 2:23 PM IST
Tata Group’s Air India is planning to acquire Air Asia India, which has sought permission from the Competition Authority of India.
Air Asia India is a joint venture between Tata Suns Private Limited and Malaysia AirAsia Group. Tata Sons holds 83.67 per cent stake in AirAsia. The remaining shares are held by AirAsia Investment Limited, Malaysia.
Meanwhile, the Tata Group has partnered with Singapore Airlines to offer Vistara Airlines. The Tata Group may have stepped in to integrate all airlines.
In a petition filed with the Competition Commission of India (CCI), the Tata Group said, “We are looking to acquire the entire stake in AirAsia Private Limited, which is indirectly managed by the Tata Group, through Air India.”
Although the Tata Group subsidiary owns 83 per cent stake in AirAsia, it needs CCI approval to merge with Air India. Launched in June 2014, AirAsia is involved in passenger service, freight transport and private charter. However, it does not operate internationally.
Tata Group won the bid to buy Air India, Air India Express in October last year. It is noteworthy that the Tata group bought the two companies for about Rs 18,000 crore and Rs 2,700 crore in cash.
Last Updated Apr 27, 2022, 4:30 PM IST
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