New Delhi: In a major development, the Competition Commission of India (CCI) on Tuesday said it has approved acquisition of entire shareholding in AirAsia India by Air India, a wholly-owned subsidiary of Tata Sons.Also Read – BREAKING: Air India Gets CCI’s Approval To Acquire AirAsia India, Tata Group To House All
“The proposed combination relates to the acquisition of the entire equity share capital of AirAsia India Private Limited by Air India Ltd- an indirect wholly-owned subsidiary of Tata Sons Private Limited (TSPL). At present, TSPL holds 83.67 per cent of the equity share capital of Air Asia India,” the CCI said in a statement. Also Read – Denied Boarding By Airlines? DGCA Fixes Compensation To Be Paid To Air Passengers | Details Here
The CCI also added that the two combined entities will have a 15.7 per cent share of India’s domestic passenger market. Also Read – Air India Fined Rs 10 Lakh By DGCA For Denying Boarding To Passengers Despite Holding Valid Tickets
Stay connected with us on social media platform for instant update click here to join our Twitter, & Facebook
We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.
For all the latest Business News Click Here
