The Competition Commission of India approved the acquisition of AirAsia India by Air India, a wholly-owned subsidiary of Tata Sons. According to CCI, Tata Group-led Air India had proposed to acquire budget airline AirAsia India.
Earlier, Tata Group-led Air India had proposed to take over AirAsia India. In this, Tata had requested the Competition Commission of India for approval for the acquisition of AirAsia India. Air India is an indirect wholly-owned subsidiary of Tata Sons Private Limited.
The company currently holds 83.67% of the equity share capital of AirAsia India. The remaining 16.33% stake is with AirAsia Investment Limited of Malaysia. The two combined entities will have a 15.7% share in India's domestic passenger market. Let us tell you that in January this year, Tata acquired Air India and Air India Express. In October 2021, Tata emerged as the winning bidder for the loss-making Air India.