TIL Desk/Business/New Delhi/ Tatas-owned Air India plans to acquire no-frills carrier AirAsia India and has sought approval from the Competition Commission for the proposed deal.
AirAsia India is majority-owned by Tata Sons Private Ltd with a shareholding of 83.67 per cent and the remaining stake is with AirAsia Investment Ltd (AAIL), which is part of Malaysia’s AirAsia Group.
Full service carrier Air India and its low-cost subsidiary Air India Express were acquired by Talace Private Limited, a wholly-owned subsidiary of Tata Sons Private Ltd, last year.
Besides, Tatas operate full service airline Vistara in a joint venture with Singapore Airlines. The latest move is likely a part of the sprawling group’s efforts to consolidate its airline operations.
“The proposed combination relates to the acquisition of the entire equity share capital of AirAsia (India) Private Limited (Air Asia India/ Target), by Air India Ltd (AIL), an indirect wholly owned subsidiary of Tata Sons Private Limited,” a notice filed with the Competition Commission of India (CCI) said.
