Tata Sons in talks to buy AirAsia’s 49% in joint venture

MUMBAI: Tata Sons is reviewing its budget airline joint venture with Malaysia’s AirAsia as the latter faces financial challenges exacerbated by the pandemic. The evaluation follows the Malaysian company’s reluctance to inject fresh equity into AirAsia India.

The holding company of the Tata Group, which owns 51% in the six-year-old low-cost carrier, is in discussions to buy out the remaining 49% held by AirAsia, said a source in the know. Tata Sons has the first right of refusal for the minority stake owned by AirAsia in the India venture.