Tatas up AirAsia India stake to 84%
The Tatas have raised their stake in AirAsia India to 83.67 per cent amid the salt-to-software conglomerate submitting an expression of interest (EoI) for national carrier Air India.
Tata Sons is buying an additional 32.67 per cent held by AirAsia Berhad of Malaysia in its domestic joint venture-AirAsia India for $37.7 million.
In January this year, the Centre had invited bids to sell 100 per cent of its holding in Air India and its international arm Air India Express and 50 per cent in ground handling joint venture Air India SATS Airport Services.
The government will announce the names of the qualified bidders on January 5, 2021, amid speculation the Tatas may use AirAsia India as the vehicle for investing in Air India.
