Air India: Air India said that the operational review process for amalgamation of AirAsia India with Air India Express is underway and the merger could happen by the end of 2023. Air India said in a statement that the process of merging the two low-cost airlines AirAsia India and Air India Express is being done as part of the restructuring plan. He said that this process will take about 12 months.
AirAsia India-Air India Express merger may happen by the end of 2023 – Air India
Air India said in a statement that the merger could happen by the end of 2023 and aims to create an affordable airline for the Air India group. The entity that will be formed after the merger will be called Air India Express.
Air India will now have 100% stake in Air Asia India
Earlier, Malaysian airline AirAsia said in a statement that it has entered into an agreement to sell its remaining stake in AirAsia India to Air India.
AirAsia Aviation Group Limited said in a statement that it has entered into a share purchase agreement to sell the remaining shares in AirAsia India to Air India. The Competition Commission of India (CCI) has approved the proposed acquisition of AirAsia India’s entire stake by Air India in June this year.
Know the partnership of Air India and Air Asia India
Tata Group’s Air India has also signed an agreement for 100% stake in AirAsia India. AirAsia India is a joint venture between Tata Sons and Air Asia Investment Limited. In this, Tata Sons holds 83.67 per cent and Air Asia Investment holds 16.33 per cent. AirAsia was started in 2014 while Air India Express started operations in 2005. AirAsia India, owned by the Tata Group and Malaysian entity, commenced operations in June 2014.
What is AirAsia’s management to say
A working group has been set up to assess and integrate Air India Group’s cost-effective operations, which will be co-chaired by Sunil Bhaskaran, Managing Director and Chief Executive Officer, AirAsia India and Alok Singh, Chief Executive Officer, Air India Express. This working group will report to a committee headed by Air India Managing Director and Chief Executive Officer Campbell Wilson. “We are excited to begin the formation of the Air India Group’s affordable airline,” Wilson said.
read this also
