WHILE EVERYONE IS BUSY ringing in hopeful celebrations for 2021, Tata Group took the celebrations a notch up as it announced about the increase of its stake in the budget carrier, AirAsia India. Tata Group, hopes to enhance its role in India’s airline industry, had also put in a bid for the national carrier, Air India.
According to the reports, Tata Group will increase its holding in the India-based joint venture with AirAsia, that started in 2014, to about 84 per cent from 51 per cent, having bought an additional 32.67 per cent stake from AirAsia Berhad at ₹276.69 crore.
AirAsia Group Berhad (AirAsia Group) announced the disposal of 32.67 per cent of its equity shares in AirAsia (India) Limited (AAI) held by the Group’s wholly owned subsidiary, AirAsia Investment Limited (AAIL), bringing its shareholding in AAI down to 16.33 per cent.
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