© business-standard.comTata Sons to buy residual stake in AirAsia India for $19 million
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Tata Sons plans to merge low-fare airline AirAsia India with Air India Express, the budget carrier of Air India. The development comes after the conglomerate successfully bought Air India from the government.
The move is aimed at achieving operational synergies and cutting operational costs, reported The Economic Times after speaking with top executives close to the development.
The decision to merge has been taken by the group as it owns an 84 per cent stake in AirAsia India and paves the way for a quick merger.