New Delhi: AirAsia has announced its plan to gradually decrease its stake in AirAsia India. In a official statement on Tuesday, Malaysian budget airline AirAsia Group said it plans to sell 32.67% of its stake in its Indian operations to Tata Sons. It is learned that Tata Sons had earlier intended to raise its stake in AirAsia India. Tata Sons earlier held 51% shares in AirAsia India and the Malaysian flagship budget carrier – AirAsia Berhad – owned 49% of the stake in Indian business.
This is a bold move from Tata Sons as they extend their grip in the aviation sector with Vistara being their other venture where they own 51% stake.
(Breaking News – More Details Awaited)