AirAsia India is AirAsia Group's brand for its subcontinent operations. The low cost carrier commenced domestic services on 12-Jun-2014. AirAsia India is based at Bangalore Kempegowda International Airport with secondary hubs in Delhi and Kolkata. AirAsia India received approval to commence international services in Feb-2022.
On 29-Dec-2020, AirAsia Group and TATA Group signed an agreement for TATA Group to purchase 490 million AirAsia India shares from AirAsia Group for USD37.7 million. This will increase TATA Group's stake in AirAsia India by 32.67% to 83.67% and reduce AirAsia Group's stake in the LCC from 49% to 16.33%. TATA Group also plans to increase its stake in AirAsia India from 83.67% to 100% by the end of Mar-2022.
In Apr-2022, Air India filed an application with Competition Commission of India to acquire "the entire equity share capital of" AirAsia India. The filing noted Air India is "an indirect wholly owned subsidiary of" TATA Group, which also owns an 83.67% stake in AirAsia India. Air India signed an agreement to complete the acquisition of AirAsia Group's remaining 16.33% stake in AirAsia India in Nov-2022. TATA Group plans to merge AirAsia India with Air India Express by the end of 2023.
India's Directorate General of Civil Aviation (DGCA) approved AirAsia India to operate, market and distribute flights under the Air India Express brand name, "prior to the subsequent scheduled legal merger of the two entities". The process of updating the livery of AirAsia India's fleet to Air India Express livery is expected to be completed by Dec-2023, while approval to change AirAsia India's 'I5' IATA code to Air India Express' 'IX' code is expected to be granted by Jan-2024.
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