Air India acquires 100% stake in AirAsia India, to integrate with Air India Express into single LCC

Air India signed (02-Nov-2022) an agreement with AirAsia Group to acquire the entire equity share capital of AirAsia India through the purchase of the latter's remaining 16.33% stake in AirAsia India, increasing Air India's stake in the LCC from 83.67% to 100%. Air India plans to integrate AirAsia India with fellow TATA Group LCC subsidiary Air India Express into a single low cost carrier under the Air India Express brand. The airline expects the integration and merger process to "take approximately 12 months, with network and other synergies to be realised progressively during that period", likely concluding by the end of 2023. Air India CEO and MD Campbell Wilson stated: "We are excited to initiate the creation of a single Air India Group low cost carrier", adding: "This is a key step in the rationalisation and transformation of the Group". [more - original PR] [more - original PR - II]