New Delhi, June 14: Anti-trust regulator Competition Commission of India (CCI) on Tuesday said it has approved acquisition of entire shareholding in AirAsia India by Air India, a wholly-owned subsidiary of Tata Sons.
proposed combination relates to the acquisition of the entire equity share capital of AirAsia India Private Limited by Air India Ltd- an indirect wholly-owned subsidiary of Tata Sons Private Limited (TSPL). At present, TSPL holds 83.67 per cent of the equity share capital of Air Asia India,” stated the filed notice with CCI.
The two combined entities will have a 15.7 per cent share of India’s domestic passenger market. Air India Express – a subsidiary of Air India doesn’t operate in the domestic market and flies only between India and Gulf routes.
Tatas raised their stake in AirAsia India to 83.67 per cent in December 2020 and are likely to complete the acquisition of the remaining 16 per cent stake from Malaysian airline group AirAsia Berhad, reported Business Standard.