Air Asia India is now fully-owned subsidiary of Air India
20 June 2022
Air Asia India has become a wholly-owned subsidiary of Air India after the Competition Commission of India (CCI) last week approved the acquisition of the entire shareholding in Air Asia India by Air India
The proposed combination envisages the acquisition of the entire equity share capital of AirAsia (India) Private Limited (Air Asia India) by Air India Ltd. (AIL), an indirect wholly owned subsidiary of TSPL. At present, TSPL holds 83.67 per cent of the equity share capital of Air Asia India.
AIL, along with its wholly-owned subsidiary, Air India Express Limited (AIXL), is primarily engaged in the business of providing scheduled domestic and international air passenger transport service, as well as air cargo transport services and charter flight services in India.
Air Asia India is a joint venture between TSPL and Air India Investment Limited (AAIL) with TSPL currently holding 83.67 per cent and AAIL holding 16.33 per cent of the shareholding. Air Asia India operates under the brand name “AirAsia”. It is engaged in the business of providing domestic scheduled air passenger transport service, air cargo transport services and charter flight services in India. AirAsia India does not provide scheduled air passenger transport services on international routes.