Tony Fernandes trims AirAsia India exit price to $50 million amid Covid-19

Tatas in advanced talks to buy 49 per cent stake in Indian joint venture

The Tata group is in advanced talks to acquire AirAsia Group’s 49 per cent stake in their Indian joint venture airline, after the Malaysian company toned down its exit price to $50 million.

The sagging financial health of both AirAsia Group Berhad and AirAsia India, worsened by the Covid-19 pandemic, and falling airline valuations have brought down the expectations of the foreign partner, said a source close to the development.

“Besides, the threat of action by Indian investigating agencies against AirAsia India and AirAsia’s promoter Tony Fernandes is another reason why the foreign partner wants to exit India,” said the