AirAsia Aviation Group Restricted on Wednesday has introduced that it’s promoting the remaining fairness shares in AirAsia to Tata Group-owned Air India.
The transfer comes as AirAsia returns to the skies stronger than ever for the reason that Covid-19 pandemic, which had enabled it to re-evaluate its strategic goals, Livemint reported.
Since January, AirAsia has flown practically 2 lakh flights, carrying over 23 million passengers throughout the group.
In June, the Competitors Fee of India had cleared Air India’s proposal to buy all the fairness share capital of AirAsiaIndia, by which the Tata Group has a majority stake of 83.67 per cent, to merge right into a single airline.
Bo Lingam, the group chief government officer of AirAsia Aviation Group stated the airline has constructed an amazing enterprise in India since its launch in 2014. He added that the Covid-19 pandemic allowed the corporate to re-evaluate the priorities and it felt that it was finest suited to AirAsia to develop an Asean solely enterprise.
He stated AirAsia has 4 nice airways– in Malaysia, Thailand, Indonesia and the Philippines– with a a lot beloved model and presence.