NEW DELHI: Paving way for consolidation among the four Tata Group airlines, the Competition Commission of India (CCI) approved acquisition of entire shareholding in Air Asia India by Air India.
The Group plans to have AI, which it took over this January, as its flagship carrier and merge the low cost airlines AirAsia India and AI Express. Vistara, Tata’s JV with Singapore Airlines, will continue as a separate carrier for now along with AI.
“CCI approves acquisition of entire shareholding in AirAsia India by Air India, a wholly-owned subsidiary of Tata Sons,” the CCI tweeted on Tuesday.
“The proposed combination relates to the acquisition of the entire equity share capital of AAIPL by AI, an indirect wholly owned subsidiary of Tata Sons Private Limited (TSPL). At present, TSPL holds 83.67% of the equity share capital of AAIPL. The proposed combination is notifiable under… the Competition Act, 2002,” the notification to CCI this April says.
