Tatas negotiate Air Asia's India exit price as airline gets $54 mn offer

Foreign fund making $54 mn offer is ready to prepay airline's expensive loans, but will only invest if Tatas, which hold RoFR, issue no-objection clearance

The Tata group and Tony Fernandes-led Air Asia Berhad are discussing the latter’s exit from Air Asia India even as the Malaysian airline is getting a $54 million firm offer from a foreign fund. If the Tata group, which has the right of first refusal (RoFR), declines to buy AAB’s 49 per cent stake then the stake will be sold to the fund by AirAsia Berhad. 

“Apart from buying the 49 per cent stake from AAB, the fund is ready to prepay high-cost, short-term loans taken by Air Asia India from Deutsche Bank, HSBC and Tata Capital. This will help