New Delhi: Air India is planning to acquire low-cost carrier AirAsia India. It has applied to the Competition Commission (CCI) to approve the deal. Tata Sons Pvt Ltd holds an 83.67 percent stake in AirAsia India, followed by AirAsia Investments, a subsidiary of Malaysia-based AirAsia Group. Air India, its subsidiary Air India Express was recently acquired by Toles, part of Tata Sons.
Apart from these, the Tata Group also operates a full-service airline expansion in association with Singapore Airlines. The Tata Group hopes to acquire AirAsia India outright to consolidate its airline services. In this context, CCI approvals will have to be sought for specific deals to avoid a monopoly problem in the market, sources said. Air India has stated in its application to CCI that the proposed acquisition will not have any negative impact on domestic competition and market share.
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