Tata Sons mulling exit of AirAsia India
Indian conglomerate Tata Sons now reportedly plans to pull out of AirAsia India entirely.
According to India media outlets, struggling AirAsia Group offered its 49% stake in the AirAsia India joint venture to Tata
However Tata has turned it down and it wants to exit the business itself according to reports.
Tata owns a majority 51% in the business.
It wants to focus more on its other airline joint venture Vistara, reports Livemint.
Vistara is a joint venture with Singapore Airlines.
AirAsia Group has previously hinted it many pull out of India and has faced some difficulties there with authorities.
It was facing an ongoing investigation over corruption after allegedly bribing officials to speed up procedures so it could start flying internationally.
It serves 21 destinations in India.
by Ray Montgomery, Asia editor
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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