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AirAsia selling its Indian business to Tata Group’s Air India

Vivid News 24: AirAsia is ceasing operations in India. The airline has decided to sell the remaining stake in its India operations. It is known that the Malaysian airline is transferring business shares in India to Tata Group’s Air India. According to sources, this information has come to light from the documents submitted to the regulatory body.

AirAsia is well known among the airlines operating in the country. Even after the covid, this airline has turned around extensively. AirAsia flights have non-stop destinations at almost every airport in the country. Air Asia has a share of 5.7 percent of the total flights in the country. AirAsia has flown a total of 1, 71,000 flights since January if only this year’s figures are considered. A total of 23 million passengers have taken the services of this airline this year.

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The Group Chief Executive Officer of AirAsia Aviation Group said, “In 2014, we started our business in India. Since then AirAsia started to grow our business in the country. It was also one of the largest civil aviation markets in the world. Working with India’s leading Tata Group We also have a great experience.”

Incidentally, 83.67 percent of AirAsia’s stock in Indian business was already held by the Tatas. The remaining stake was 16.33 percent, which was held by AirAsia Investment Ltd (AAIL). AirAsia is handing over that equity share to Tata Sons Private Limited.

Two airlines are coming under Tata’s hands. Tata may merge these two airlines shortly. In June last year, the Competition Commission of India (CCI) responded to Air India’s proposal to buy the remaining shares of AirAsia India. This time, sources claim, AirAsia India is also handing over the rest of its stock to the Tatas.

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Vivid News-24 Desk
Vivid News-24 Deskhttps://vividnews24.com
Vivid News-24 News India's new growing news website. Which provides some specific categories of news, top world news, entertainment, sports, new technology, politics etc.
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