Tata Sons is planning to gradually raise its stake in AirAsia India to more than 76 per cent by the end of 2020-21, people aware of the development have said.
Tatas increasing stake in the airline will give an exit route to Malaysia's flagship budget carrier AirAsia Berhad, which holds 49 per cent stake in the company. The AirAsia Group recently said it was reviewing its investment in the joint venture, as operations of the company — like those of its now-shuttered Japan business — have been draining cash and adding to the group’s financial stress. “For ...
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