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Tatas spread wings in aviation, hike stake in AirAsia India to 84%

Malaysian parent planning to quit the joint venture fully

Air Asia
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The 51-49 joint venture partnership between the Tatas and the AirAsia group had started operations in 2014 as a low-cost carrier in the country

Arindam Majumder New Delhi
In a major step to consolidate the group’s aviation business, Tata Sons--the holding company for the salt to software conglomerate--has increased its stake in AirAsia India to 83.67 per cent from 51 per cent till now. The Tata group bought 32.67 per cent stake from AirAsia Berhad at Rs 276.29 crore, the Malaysian airline told the Kuala Lumpur-based exchange Bursa on Tuesday.

Tata Sons also has a call option on the remaining 16.33 per cent stake that its partner holds in the airline. A person aware of the development said Tatas would exercise the right, thereby giving a total exit to

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First Published: Dec 30 2020 | 12:23 AM IST

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