Considering the negative impact of COVID-19 Pandemic on the valuation of global airline stocks, Tata Sons has decided to purchase AirAsia Berhad’s stake in their joint venture airline in India at a steep discount. According to banking sources, “The Tata group is likely to tie up with other financial investors to acquire its Malaysian partner’s 49 per cent stake in AirAsia India”. The company presently holds a 51 per cent stake in the airline and has the right of first refusal in acquiring shares of its partner, AirAsia.
Wed. Apr 24th, 2024
