Air India Announcement: Air India has provided an estimated completion date for the merger of Air Asia India and Air India Express. And the firm has expressed optimism that it will be able to create a low-cost airline.
AirAsia India and Air India Express may merge by the end of 2023, according to Air India. Which said that the operational review process is now underway. In a statement, Air India stated that the reorganization plan includes the process of integrating the two low-cost carriers, AirAsia India and Air India Express. He estimated that this process would take about 12 months.
By the end of 2023, Air India Express and Air Asia India may merge.
The goal of this merger, according to a statement from Air India, is to develop an economical airline for the Air India group by the end of 2023. After the merger, a new company called Air India Express would be created.
Now, AirAsia India will own all of Air India.
AirAsia, a Malaysian airline, earlier said in a statement that it had reached a deal to sell Air India its remaining interest in AirAsia India. The remaining shares of AirAsia India will be sold to Air India under a share purchase agreement, according to a statement from AirAsia Aviation Group Limited. The proposed acquisition of AirAsia India’s whole interest by Air India in June of this year has been approved by the Competition Commission of India (CCI).
Know about the partnership between Air Asia India and Air India.
Air India, a member of the Tata Group, has also agreed to purchase a 100% share in AirAsia India. Tata Sons and Air Asia Investment Limited have partnered to become AirAsia India. Tata Sons and Air Asia Investment each own 83.67 percent of the company. Operation of the Tata Group- and Malaysian-owned AirAsia India began in June 2014.
What AirAsia Management Says
A working group has been established, co-chaired by Sunil Bhaskaran, Managing Director, and CEO of AirAsia India and Chief Executive Officer of Air India Express, to integrate and evaluate the cost-effective operations of the Air India Group. Alok Singh will carry it out. A committee led by Campbell Wilson, managing director, and chief executive officer of Air India, will receive the working group’s findings. “We are thrilled to start building the low-cost airline for the Air India Group,” Wilson added.
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