{"id":27747,"date":"2022-11-03T12:44:14","date_gmt":"2022-11-03T07:14:14","guid":{"rendered":"https:\/\/aviationa2z.com\/?p=27747"},"modified":"2023-05-19T18:04:53","modified_gmt":"2023-05-19T12:34:53","slug":"airasia-transfers-its-remaining-16-33-ownership-of-the-indian-operations-to-air-india-exclusive","status":"publish","type":"post","link":"https:\/\/aviationa2z.com\/index.php\/2022\/11\/03\/airasia-transfers-its-remaining-16-33-ownership-of-the-indian-operations-to-air-india-exclusive\/","title":{"rendered":"Airasia Transfers Its Remaining 16.33% Ownership Of The Indian Operations To Air India | Exclusive"},"content":{"rendered":"\n

The remaining stock stakes in AirAsia (India) <\/strong>were sold by the AirAsia Aviation Group to Air India, which is currently owned by the Tatas. <\/p>\n\n\n\n

According to AirAsia, the company anticipates receiving Rs 1.56 billion from the sale of the stock and there will be no gain or loss on the disposal. <\/strong><\/p>\n\n\n\n

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After COVID had an adverse effect on its operations, the Malaysia-based airline will intensify its focus on Asean nations<\/strong>. It was stated that India will continue to be a significant market and that its various airlines would continue to fly there. <\/p>\n\n\n\n

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The no-frills airline is owned by Tata Sons 83.67% of the time, and AirAsia Investment Ltd, a subsidiary of Malaysia’s AirAsia Group, holds the remaining 16.33%. <\/p>\n<\/blockquote>\n\n\n\n

The equity sale is expected to bring in Rs 1.56 billion<\/strong> for the company.The low cost carrier and Air India Express can be combined. <\/p>\n\n\n\n

Full-service airline Air India serves both home and foreign markets. Short-haul international travel<\/strong> is the main focus of Air India Express, particularly from south India and elsewhere to the Middle East. <\/p>\n\n\n\n

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Tata Sons and Air Asia Investment Ltd. collaborated to create AirAsia India. Tata Sons owned 83.67 percent<\/strong> of the company, while the latter held 16.33 percent of the shares. <\/p>\n<\/blockquote>\n\n\n\n

The proposed acquisition of AirAsia India’s whole stake by Air India was given the go-ahead in June by the Indian Competition Commission. <\/p>\n\n\n\n

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Bo Lingam, group CEO of AirAsia Aviation Group, stated that since beginning operations in India in 2014, “AirAsia has created a wonderful business in India, which is one of the biggest civil aviation markets in the world.” <\/strong><\/p>\n<\/blockquote>\n\n\n\n

“Working with the prestigious Tata Group in India has been a wonderful experience for us. We will continue to work together in the future to strengthen our synergies<\/strong>, so this is not the end of our partnership but the start of a new one, “added he. <\/p>\n\n\n\n

Also read:– Planes grounded due to maintenance and engine-related concerns <\/a> <\/p>\n\n\n\n

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Following a Medical Incident, AirAsia Flight bound for Malaysia Makes an Emergency Landing<\/a><\/blockquote>