New Delhi/Mumbai: Tata Sons is increasing its stake in low-cost carrier
AirAsia India from 30 per cent to 41 per cent, acquiring the additional
stake by infusing fresh capital. The overall equity capital remains
unchanged at $30 million.
AirAsia India is a joint venture between Malaysian low-cost airline AirAsia Berhad, Tata Sons and Arun Bhatia’s Telestra Tradeplace. Telestra Tradeplace was to subscribe to 21 per cent equity in the airline but it hasn’t done so. According to the original investment plan, the three partners had committed to invest $30 million in the airline.
AirAsia India is a joint venture between Malaysian low-cost airline AirAsia Berhad, Tata Sons and Arun Bhatia’s Telestra Tradeplace. Telestra Tradeplace was to subscribe to 21 per cent equity in the airline but it hasn’t done so. According to the original investment plan, the three partners had committed to invest $30 million in the airline.
A Tata Sons spokesperson said: “We are in the process of subscribing to the capital of AirAsia India, which will raise our stake to 41.06 per cent from the current 30 per cent.” Sources said an announcement on the issue was expected on Monday.
Read news in full 14/08/15 Somesh Jha & Aneesh Phadnis/Business Standard
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