Air India seeks to acquire AirAsia India, seeks CCI nod

Air India, now owned by the Tata group, has proposed to acquire the entire stake in no-frills airline AirAsia India, following which it intends to consolidate its airline businesses under a single roof. The company has approached the Competition Commission of India (CCI), the country’s antitrust regulator, seeking approval to acquire the 16.33 per cent stake held by its joint venture partner, AirAsia Group. “The proposed combination relates to the acquisition of the entire equity share capital of AirAsia (India) by Air India (AIL), an indirect wholly owned subsidiary of Tata Sons. The proposed combination will not lead to any change in the competitive landscape or cause any appreciable adverse effect on competition in India, irrespective of the way the relevant markets are defined,” Tata Group said in an official notice filed with the CCI.