Tata Group brings AirAsia India under Air India’s wings
According to the agreement, AirAsia India can continue to use the ‘AirAsia’ brand name for 12 months
NEW DELHI : AirAsia Bhd exited the Indian budget airline that carried its name, with its majority Indian partner, Tata Group’s Air India, agreeing to acquire the 16.67% stake the Malaysian carrier still owned in AirAsia India for ₹155.65 crore. According to the share purchase agreement, AirAsia India can continue to use the ‘AirAsia’ brand name for 12 months, the Malaysian company said on Wednesday.
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