Consolidation in the sky as antitrust watchdog approves AI takeover of AirAsia India – Google Newz

Consolidation in the sky as antitrust watchdog approves AI takeover of AirAsia India – Google Newz
Consolidation in the sky as antitrust watchdog approves AI takeover of AirAsia India – Google Newz

The Competition Commission of India (CCI) has approved the acquisition of all the shares of AirAsia India by Air India, owned by Tata Group. Currently, Tata Sons, the holding company of the Mumbai-based conglomerate, has an 83.67% stake in AirAsia India, while the rest is held by Malaysia’s AirAsia Bhd.
official approval
This is the first formal regulatory approval of Tata Group’s plan to consolidate its aviation portfolio. “CCI approves the acquisition of all of AirAsia India’s shares by Air India, a wholly owned subsidiary of Tata Sons,” the antitrust panel said.
Meaning
AirAsia India operates low-cost airline services in domestic sectors in India. The airline was founded as a joint venture between Tata Group and AirAsia Bhd, led by Tony Fernandes, in 2014. Tata Group later launched full-service airline Vistara in a 51:49 joint venture with Singapore Airlines and bought 100% of Air India shares, along with its low-cost subsidiary Air India Express earlier this year.
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The conglomerate is in the process of consolidating its aviation portfolio. You also learn how to move all your aviation brands to a single corporate office at Gurugram.
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