Tatas to increase AirAsia India stake to 41%

August 14, 2015 12:56

Tata Sons will hike its stake to 41.06 per cent in low cost carrier AirAsia India.
The airline, which is facing stiff competition, is also set for top management reshuffle with CEO Mittu Chandilya expected to be elevated as Managing Director in addition to his current responsibility.
"We are in the process of subscribing to the capital of AirAsia India which will take up our stake to 41.06 per cent from the current 30 per cent," a Tata Sons spokesperson said.
The no-frills carrier is a three-way joint venture in which Malaysia's AirAsia Berhard owns 49 per cent.

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