Tatas-owned Air India plans to acquire no-frills carrier AirAsia India and has sought approval from the Competition Commission of India for the proposed deal. AirAsia India is majority-owned by Tata Sons with a shareholding of 83.67 per cent and the remaining stake is with AirAsia Investment Ltd (AAIL), which is part of Malaysia’s AirAsia Group.
Full service carrier Air India and its low-cost subsidiary Air India Express were acquired by Talace Private Limited, a wholly owned subsidiary of Tata Sons, last year.
Besides, the Tatas operate full service airline Vistara in a joint venture with Singapore Airlines. The latest move is likely a part of the sprawling group’s efforts to consolidate its airline operations.
