A merger of budget airline AirAsia India with full-service carrier Vistara is among options considered by the Tata group as it gears up for a wider play in the aviation business.
The salt-to-software conglomerate has set up a strategy team headed by Tata Sons Pvt. Ltd’s chief financial officer Saurabh Agrawal to explore options, including mergers, consolidation and rebranding of its airline ventures, two people aware of the matter said, requesting anonymity.
Tata group, which placed an expression of interest for Air India, recently announced its decision to raise its stake in AirAsia India to 84% by buying out a part of its Malaysian partner AirAsia Bhd’s shares.
