Air Asia completely merged into Air India after share sale agreement
The deal comes at a time when a merger between Air India and Vistara is being discussed.
Air Asia |
Air Asia has completely been amalgamated into Air India after Air Asia Aviation Group sold its remaining stake in the carrier to Tata Sons. The development comes at a time when a merger of Air India and Vistara is also being discussed. Tata Sons had acquired a debt-ridden Air India from the government, before initiating its revival.
The latest agreement comes as AirAsia returns to the skies stronger than ever since the pandemic which allowed the airline to re-examine its strategic objectives to focus on Asean given its strong network and significant presence in the region. To date, AirAsia has flown more than 171,000 flights since January 2022, carrying over 23 million passengers across the Group.
Group CEO of AirAsia Aviation Group Bo Lingam said, “Since 2014 when we first commenced operation in India, AirAsia has built a great business in India, which is one of the world’s biggest civil aviation markets in the world. We have had a great experience working with India’s leading Tata Group. This is not the end of our relationship, but the beginning of a new one as we explore new and exciting opportunities to collaborate and enhance our synergies moving forward."
He added that, “Covid has allowed us to re-examine our priorities, and we felt that it was best suited for AirAsia to develop an Asean-only business, where we have four great airlines– in Malaysia, Thailand, Indonesia and the Philippines– with a much loved brand and presence."
In tandem with the reopening of Malaysia’s international borders in April this year, AirAsia Malaysia (AK) has reinstated its flight connectivity to key destinations in India and more from Malaysia, offering guests from both countries attractive deals and promotions.
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