M&A

M&A

Tata Sons to buy residual stake in AirAsia India

Business Line  

As part of its plan to bring the aviation business under a common platform, the Tata Group is in talks to acquire the residual stake in Air Asia India. In December 2020, Tata Sons had increased its stake in AirAsia India to 83.67%, from 51%. Tata Sons has a call option on the remaining 16.33% stake which it plans to exercise now. Tata Sons has been working on a plan to combine Vistara, Air India, and AirAsia under a common umbrella. With a combined market share of 26.9%, the Tata Group venture will emerge as the second-largest domestic airline after Indigo.