Tata Sons in talks to acquire AirAsia India stake at a steep discount

Tata Sons, the holding company of the Tata group, is in talks to buy out AirAsia Berhad’s stake in their joint venture airline in India at a steep discount — taking into account the crash in valuations of airline stocks globally owing to the Covid-19 pandemic.

The Tata group is likely to tie up with other financial investors to acquire its Malaysian partner's 49 per cent stake in AirAsia India, said banking sources.

The Tatas own 51 per cent in the airline and have the right of first refusal in acquiring shares of its partner. Tata Sons and AirAsia did not respond