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Friday, 16 November, 2018, 11 : 00 AM [IST]

Tata Sons may exit out of joint venture with AirAsia in India

As per an Economic Times report by Anirban Chowdhury, Tata Sons is looking to end its partnership with AirAsia Bhd as it only wants to be engaged in one airline business, Vistara, the joint venture with Singapore Airlines (SIA), according to several people aware of the matter.

Initial discussions to this end have begun, even as the conglomerate inches closer to a separate deal to acquire ownership stake in India’s second-biggest airline Jet Airways from its Founder Naresh Goyal.

The Tata Group holding company is proposing to “exit AirAsia India and run the only full-service private airline in India, which is Vistara-plus-Jet,” said one of the people. Tata Sons owns 51% of AirAsia India with the rest held by Malaysia-based AirAsia Bhd.

Tata Sons, AirAsia and Singapore Airlines declined to comment on what they said was speculation. (Source: Economic Times)
 
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