CCI said in a notice on Tuesday that Tata Sons Private Limited's (TSPL) subsidiary Air India Limited's (AIL)'s proposal to buy 100 per cent equity share capital of AirAsia (India) Private Limited has been approved.
Tata Sons holds 83.67 per cent and Air Asia Investments holds 16.33 per cent in Air Asia India. (Image: PTI)
Acquisition of AirAsia India by Air India: The Competition Commission of India (CCI) has approved the acquisition of AirAsia by Air India. Tata Sons' subsidiary Air India has got approval to buy 100% stake in AirAsia. CCI in a notice on Tuesday said that Air India Limited (AIL), an indirect wholly owned subsidiary of Tata Sons Private Limited (TSPL), has approved the proposal to buy 100 percent equity share capital of AirAsia (India) Private Limited. has been given.
Air Asia India, TSPL and Air Asia Investment Ltd. (AAIL) is a joint venture. In this, Tata Sons Private Limited holds 83.67 percent and Air Asia Investment has 16.33 percent. Air Asia India started operations in June 2014. The company provides scheduled air passenger service, air cargo transport and charter flight services in the country. It has no international operation. An appeal was made to the CCI on behalf of Tata Sons regarding this deal.
Last year, Tata Sons' subsidiary Tales Private Limited had acquired Air India and its affordable flight services subsidiary Air India Express. Let us tell you that Tata also operates a full service airline Vistara jointly with Singapore Airlines.
Tata took over Air India in January
Tata took over Air India and Air India Express in January this year. In October 2021, Tata won the bid for loss-making Air India. The bid was Rs 18,000 crore. This included Rs 2700 crore cash payment and the company's debt of Rs 15,300 crore. Let us tell here, any company has to get approval from the Competition Commission of India to take more than a certain limit.
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