The holding company for Capital as airline group announced today that it has entered into a share purchase agreement to sell Air India Limited, a subsidiary of Tata Sons Private Limited, the remaining equity shares it holds in AirAsia Private Limited.
The most recent agreement comes as AirAsia re-enters the skies stronger than ever since the pandemic, which allowed the airline to re-examine its strategic objectives to concentrate on Asean given its robust network and significant presence in the region. Since January 2022, AirAsia has operated over 171,000 flights, carrying over 23 million passengers throughout the Group.
AirAsia Malaysia has restored its flight connectivity to major Indian cities and more from Malaysia in conjunction with the reopening of Malaysia’s international borders in April of this year. As a result, visitors from both countries can take advantage of appealing deals and promotions to visit India’s monuments, serene lakes, majestic mountains, and other attractions.
With a 39% increase in total passengers carried in 2019, AirAsia India—the fifth-largest airline in India with a total market share of 5.7% and the first foreign airline to establish a subsidiary there—reported an impressive growth. This strengthened its domestic position. Pre-pandemic, AirAsia India operated flights to 13 locations, including Tiruchirappalli, Bengaluru, Kolkata, Hyderabad, and New Delhi.