Air India, owned by Tata Sons, has proposed to buy 100 per cent stakes of the AirAsia India airline.
Air India has approached the anti-trust regulator Competition Commission of India (CCI) for a merger of its low-cost subsidiary Air Asia India.
“The proposed combination relates to the acquisition of the entire equity share capital of AirAsia India Private Limited by Air India Ltd- an indirect wholly-owned subsidiary of Tata Sons Private Limited (TSPL). At present, TSPL holds 83.67 per cent of the equity share capital of Air Asia India,” the filed notice with CCI said.
Presently, Tata Sons owns 83.67% stake in AirAsia India.
The remaining 16.33% stake is owned by AirAsia Investment Ltd (AAIL), a part of Malaysia’s AirAsia Group.
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In October last year, Tata Sons won the bid to acquire the loss-making Air India and assumed management control of Air India in January.
Tata Sons has started the process of integrating the four airlines under its belt.
As part of this process, all four airlines- Air India, Air India Express, Vistara, AirAsia India, and ground handling firm AISATS will move into a single office.