NEW DELHI: The Competition Commission of India (CCI) has approved the acquisition of the entire shareholding in Air Asia India by Air India. The approval comes at a time when Tata Group is consolidating its airline business.
“CCI approves acquisition of shareholding in AirAsia India by Air India, a wholly-owned subsidiary of Tata Sons,” CCI tweeted on Tuesday.
Tata Group, which acquired Air India (AI) last year and took over its operation in January this year, plans to have AI as its flagship carrier and merge the low-cost airlines AirAsia India and AI Express.
Tata Group also operates Vistara in a 51:49 joint venture with Singapore Airlines. As per industry sources, Vistara will continue as a separate carrier for the time being even as talks between its stakeholders is underway.