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Air India closes in on full acquisition of AirAsia India
Air India is nearing full ownership of AirAsia India.
It signed agreements to complete the purchase of the remaining 16.67% stake still owned by AirAsia Group.
Under the agreement, AirAsia India can continue to use the ‘AirAsia’ brand name for 12 months.
AirAsia India will be merged with low cost Air India Express within the next year with the new entity taking the Air India Express name.
It will be co-led by Sunil Bhaskaran, CEO of AirAsia India and Aloke Singh, CEO of Air India Express during the integration.
“We are excited to initiate the creation of a single Air India Group low-cost carrier. This is a key step in the rationalisation and transformation of the Group,” said Campbell Wilson, CEO, Air India.
Air India owner now has full control of three airlines as well as 51%: of full-service carrier Vistara
Tata Group is mulling a possible merger of Vistara and Air India.
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