AirAsia sells remaining stake in India biz to AI

AirAsia Bhd sold its remaining 16.33% stake in AirAsia India to Tata-owned Air India. This follows the acquisition of a 32.7% stake by Tata from AirAsia Bhd for ₹276.29 crore in December 2020. The Malaysian group got ₹155 crore from the sale of the remaining stake as the Tata Group takes full ownership.

Following the acquisition of Air India last year, the Tata Group aims to consolidate its aviation businesses and as part of that intends to merge AirAsia India and Air India Express.