Tata Sons will take over Air Asia India.
Tata Sons has acquired an additional 32.67% stake in Air Asia India for US$ 37.6 million. This brings the company’s stake in the airline to 83.6%.
See also: EASA extends ban flights for Pakistan Airlines.
There will also be a purchase option on the remaining 16.33% of the participation, which Tata Sons may exercise at any time after the transaction is completed.
The announcement comes two months after AirAsia closed its subsidiary in Japan, citing the highly challenging conditions in the midst of the pandemic.
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