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Tata Sons may raise stake to over 76% in AirAsia India by 2020-21 end

If the Tatas successfully acquire Air India, the conglomerate is likely to integrate AirAsia with Air India's low-cost subsidiary, Air India Express

AirAsia India appoints Amar Abrol as new CEO; Chandilya to go

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At present, AirAsia India is functioning on funding from Tata Sons, which has invested close to Rs 650 crore through optionally convertible debentures.

Arindam Majumder New Delhi

3 min read Last Updated : Nov 30 2020 | 6:05 AM IST

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 the time being, AirAsia Berhad

Topics : Tata Sons Air Asia India airlines Indian companies

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