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AirAsia to sell bulk of stake in its Indian operations to Tata Sons

AirAsia India offer no charges on any fee changes for tickets booked till May 15
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AirAsia India offer no charges on any fee changes for tickets booked till May 15

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Malaysian budget airline AirAsia Group Bhd said on Tuesday it plans to sell 32.67 percent of its stake in its Indian operations to majority shareholder Tata Sons for $37.7 million. The airline, which until now owned 49% of AirAsia India as part of a joint venture with the Indian conglomerate, said the sale would allow it to focus on its recovery in its key Southeast Asian markets amid the impact of the COVID-19 pandemic on travel. The announcement comes two months after AirAsia shut its operations in Japan, citing highly challenging conditions amid the pandemic.

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