Air India proposes to buy Air Asia’s remaining stake
NEW DELHI: In what could be Tata Group’s first move to consolidate its airline operations, Air India, which was recently acquired by the conglomerate, has proposed to buy the no-frills carrier AirAsia India’s entire stake. “The proposed combination relates to the acquisition of the entire equity share capital of AirAsia (India) Private Limited (Air Asia India/ Target), by Air India Ltd (AIL), a wholly-owned subsidiary of Tata Sons,” said a notice filed with the CCI.
