AirAsia to own only 13% in Tata JV
NEW DELHI: Malaysian carrier AirAsia will be reduced to a financial investor in its India unit as larger strategic partner Tata Sons initiates consolidation moves in aviation.
AirAsia, which till recently held 49% in its India venture, will see its stake fall to 13% as it prioritises its geographical play after being faced with Covid-induced financial woes. It will retain a low double-digit stake in the India unit as the latter will continue to use the AirAsia brand and other agreements like aircraft maintenance and ticketing-accounting software for some time. Tata Sons, which already owns a significant majority stake (about 75%) in AirAsia India, will see this further go up to 87%.
