Current Affairs   »   Business Current Affairs & News 2022   »   Air Asia to merge by Tata...

Air Asia to merge by Tata Group with Air India 2022

The Tata Group has been attempting to improve Air India’s performance since its takeover in January 2022. That includes its on-time performance. The Tata’s most recent job is to consolidate their aviation operations. The Competition Commission of India (CCI) has already been notified of Air India’s intention to merge with AirAsia India.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

Key Points:

  • In December 2020, Tata increased its stake in AirAsia India to 67 percent.
  • AirAsia India, which began operating in June 2014, provides scheduled passenger, cargo, and charter flight services throughout the country.
  • It does not operate on a global scale.
  • In January of this year, Tata acquired Air India and Air India Express.
  • Tatas emerged as the winning bidder for loss-making Air India in October 2021.
  • It made a bid of Rs 18,000 crore, which included a cash payment of Rs 2,700 crore and the assumption of the carrier’s debt of Rs 15,300 crore.
  • Vistara Airlines is also owned by the Tata group, although it has opted out of the merger plan so far.
  • Singapore Airlines, a Vistara joint venture partner, is rumoured to be interested.
  • Vistara Airlines is also owned by the Tata group, although it has opted out of the merger plan so far.
  • Singapore Airlines, a joint venture partner in Vistara, may not want a stake in the combined Air India because it competes with the Indian carrier on foreign routes, according to sources.
  • Tata Group, which includes Air India, Vistara, and AirAsia, has a combined market share of 9%, making it the second-largest domestic airline business behind IndiGo.

Regardless of how the relevant markets are defined, the airline claims that the Proposed Combination will neither transform the competitive environment or have a significant negative impact on competition in India.

Find More Business News HereTata Group: Air Asia to merge by Tata Group with Air India 2022_50.1

Thank You, Your details have been submitted we will get back to you.
Was this page helpful?

Leave a comment

Your email address will not be published. Required fields are marked *