Approval: Tata Group to acquire Air Asia India, CCI approved the proposal

Competition Commission of India approved the acquisition of entire shareholding in Air Asia India by Air India, a wholly owned subsidiary of Tata Sons. It is worth noting that in the past, Tata Group-led Air India had proposed to take over the cost-effective airline Air Asia India. In this, Tata had requested the Competition Commission of India for approval for the acquisition of AirAsia India.

Let us inform that in the petition filed by Tata Sons in the CCI, it was mentioned that Tata Sons Private Limited holds 83.67 percent stake in Air Asia India. The rest of the company is held by AirAsia Investment Limited (AAIL) of Malaysia’s AirAsia Group. Tales Pvt Ltd, a wholly owned subsidiary of Tata Sons Pvt Ltd, had acquired Air India and its subsidiary Air India Express last year.

Tata also operates a full-fledged aviation service, Vistara, jointly with Singapore Airlines. It may be noted that CCI approval is required for stake transactions above a certain limit.