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Air India may have to write off big AirAsia India losses
Sunday, 24 Aug, 2022
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Air India’s bid to fully acquire low-cost carrier AirAsia India could be extremely costly for owner Tata Sons.
It may be forced to write off losses of over $300 million.
Analysts say Tata will likely have to make a provision for the losses before a planned merger with Air India Express.
Tata also owns Air India, Vistara and Air India Express.
An auditor’s report states that AirAsia India’s liabilities far exceed current assets.
AirAsia India is not yet fully owned by Tata Sons as AirAsia Group still holds a minority stake.
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