Tata group to hike stake in AirAsia India operations
MUMBAI : Tata Sons Ltd is increasing its stake in AirAsia India Ltd – its joint venture airline with Malaysia’s AirAsia Bhd – from 51% to as much as 84%, said one person aware of the development.
The move to consolidate its control in AirAsia India comes at a time when the group has shown preliminary interest in acquiring state owned Air India in the ongoing divestment process.
Tata’s increasing their stake in AirAsia will be a culmination of months of talks between the two JV partners, after the covid-19 pandemic wrecked havoc on the aviation industry, leading AirAsia to seek an exit from the Indian market in order to focus on its core geographies.
