Tata Group acquires remaining stake in AirAsia India from Air Asia

3 Nov 2022 , 09:08 AM

The remaining stock stakes in AirAsia (India) were sold by the AirAsia Aviation Group to Air India, which is currently owned by the Tatas.

According to AirAsia, the company anticipates receiving Rs1.56 billion from the sale of the stock and there will be no gain or loss on the disposal.

After COVID had an adverse effect on its operations, the Malaysia-based airline will intensify its focus on Asean nations. It was stated that India will continue to be a significant market and that its various airlines would continue to fly there.

Tata Sons and Air Asia Investment Ltd. collaborated to create AirAsia India. Tata Sons owned 83.67% of the company, while the latter held 16.33% of the shares.

The proposed acquisition of AirAsia India’s whole stake by Air India was given the go-ahead in June by the Indian Competition Commission.

Bo Lingam, group CEO of AirAsia Aviation Group, stated to ET that since beginning operations in India in 2014, “AirAsia has created a wonderful business in India, which is one of the biggest civil aviation markets in the world.”

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