MUMBAI\/NEW DELHI: In what will be its first M&A under new owner Tata Sons, Air India has proposed to buy low-cost carrier AirAsia India, according to an application with the Competition Commission of India (CCI). The move will see Malaysia\u2019s AirAsia exiting the airline venture nine years after it entered India with high hopes.
\nAirAsia owns 16.3% in the India unit and, according to the shareholders\u2019 agreement between the company and Tata Sons, the latter can acquire the former\u2019s stake directly or through an affiliate. Since Air India is now an affiliate of Tata Sons, the purchase of AirAsia\u2019s stake has been routed through it, sources said.
\nAir India will buy AirAsia\u2019s 16.3% stake in the airline venture for Rs 139 crore. The remaining stake of 83.7% in AirAsia India is held by Tata Sons. This too will be purchased by Air India. Tata Sons had acquired Air India through its 100% arm Talace in a Rs 18,000-crore equity and debt deal on January 27 this year.<\/p>\n","protected":false},"excerpt":{"rendered":"
MUMBAI\/NEW DELHI: In what will be its first M&A under new owner Tata Sons, Air India has proposed to buy low-cost carrier AirAsia India, according to an application with the Competition Commission of India (CCI). The move will see Malaysia\u2019s AirAsia exiting the airline venture nine years after it entered India with high hopes. AirAsia owns 16.3% in the India unit and, according to the shareholders\u2019 agreement between the company and Tata Sons, the latter can acquire the former\u2019s stake directly or through an affiliate. Since Air India is now an affiliate of Tata Sons, the purchase of AirAsia\u2019s stake […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[184,141,130],"tags":[],"class_list":["post-487449","post","type-post","status-publish","format-standard","hentry","category-civil-aviation-hindustantimes","category-hindustantimes","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/487449","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=487449"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/487449\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=487449"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=487449"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=487449"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}