Tata Group plans to pump in $50 million in AirAsia India: Report

Tata Group is planning to pump in as much as $50 million as emergency funding in Malaysia’s flagship budget carrier AirAsia Group Bhd to keep it flying in India, according to a report by Mint.

The funding could be infused via debt and equity route. The move may push Tata Group’s stake in Air Asia India beyond 51 per cent, sources told the publication.

“The Tata Group will remain invested in AirAsia India though it may seek out a suitable partner to invest in the airline in the future,” the report cited a source as saying. It also added that the Tata Group “is looking beyond the pandemic when it comes to the aviation sector.”