AirAsia Aviation Group Limited on Wednesday has announced that it is selling the remaining equity shares in AirAsia to Tata Group-owned Air India.
The move comes as AirAsia returns to the skies stronger than ever since the Covid-19 pandemic, which had enabled it to re-evaluate its strategic objectives, Livemint reported.
Since January, AirAsia has flown nearly 2 lakh flights, carrying over 23 million passengers across the group.
In June, the Competition Commission of India had cleared Air India’s proposal to purchase the entire equity share capital of AirAsiaIndia, in which the Tata Group has a majority stake of 83.67 per cent, to merge into a single airline.
Bo Lingam, the group chief executive officer of AirAsia Aviation Group said the airline has built a great business in India since its launch in 2014. He added that the Covid-19 pandemic allowed the company to re-evaluate the priorities and it felt that it was best suited for AirAsia to develop an Asean only business.
He said AirAsia has four great airlines– in Malaysia, Thailand, Indonesia and the Philippines– with a much loved brand and presence.
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