India's Tata Group is planning to increase its shareholding in AirAsia India (Bengaluru International) Bloomberg News India has reported. The firm, which currently holds a 30% stake in AirAsia India, is in talks with 21% shareholder Telestra Tradeplace the newswire said quoting AirAsia founder and Group CEO Tony Fernandes.
The Indian carrier's remaining 49% stake is controlled by Malaysia's AirAsia Group Bhd.
In May, the Times of India, citing unnamed sources, said Arun Bhatia of Telestra Tradeplace was reportedly looking to sell his 21% stake in the airline. Tata currently controls a 51% majority shareholding in Vistara (Delhi International), a joint venture with Singapore Airlines (SQ, Singapore Changi).
Launched in 2014, AirAsia India operates five A320-200s on flights to ten destinations locally.
