 "airasia, flights, airlines, aviation")
Tatas to give wings to crisis-hit AirAsia India, invest Rs 300 cr via OCDs
Tata Sons will pump money into its low-cost aviation venture AirAsia India against the inability of Malaysian airline AirAsia Berhad, the joint venture partner, to fund the company. Tata Sons owns 51 per cent in the joint venture while AirAsia Berhad has the rest. Funding will be through optionally convertible debentures (OCDs), which will allow Tata Sons to convert the debt into equity at a later stage. This will reduce the stake of AirAsia Berhad, which is looking to exit the joint venture while it fights to
