CCI approves acquisition of AirAsia India by Air India
The IT to steel conglomerate plans to merge AirAsia India into a single airline.
On Tuesday, June 14, the Competition Commission of India (CCI) approved Air India’s proposal to acquire AirAsia India. Air India is owned by the Tata Group whereas a majority stake in AirAsia is also owned by the Tata Group.
The IT to steel conglomerate plans to merge AirAsia India into a single airline. Approx 16.33% stake of AirAsia India is owned by AirAsia Investment Ltd (AAIL). AAIL is a part of Malaysia’s AirAsia Group.
The proposal for the 100% acquisition of AirAsia India by Air India was submitted to CCI in April of this year. “The proposed combination will not lead to any change in the competitive landscape or cause any appreciable adverse effect on competition in India, irrespective of the manner in which the relevant markets are defined,” CCI had stated earlier.
In FY2021, Talace Private Ltd acquired Air India & Air Indian Express. Talace is a wholly-owned subsidiary of Tata Sons.