M&A

M&A

Air India to acquire entire equity of AirAsia India

MyBigPlunge  

Tatas-owned Air India has proposed to acquire the entire equity of no-frills carrier AirAsia India. It has sought approval from the Competition Commission of India to finalise the deal. Full service carrier Air India and its low-cost subsidiary Air India Express were acquired by Talace Pvt Ltd, a wholly-owned subsidiary of Tata Sons Pvt Ltd, last year. AirAsia India is 83.67 % owned by Tata Sons Pvt Ltd. The remaining stake is with AirAsia Investment Ltd (AAIL), part of Malaysia's AirAsia Group. AirAsia India, which started flying in June 2014, offers scheduled air passenger transport, air cargo transport and charter flight services.