Tata Sons will now hold a 83.67% stake in Malaysian Airline AirAsia India. AirAsia Group will sell 32.67% of its stake to Tata Sons for $37.7 million. Post completion of the deal, AirAsia India’s stake which initially was 32% will be reduced to 13%. AirAsia India has been suffering losses with it’s revenue collapsing by 69% in September and this decision is taken in the wake of financial dropping due to COVID-19. Tata Sons is also engaged in an ongoing bidding process for national carrier Air India.
Tata Sons to acquire a 83% stake in AirAsia India
