Days before the #AirIndia bid, #Tatas give #AirAsia a ‘national’ tag…

By @navdeepyadav321
#TataGroup hikes its stake in #AirAsia India, buys additional 32.67% stake for $37.66 million (₹276 crore).
#TataGroup now holds 83.67% stake in the venture, with an option to acquire the rest 16.33% stake for $18.83 million.

This move comes as the race for #AirIndia’s divestment heats up, with its second phase beginning on January 5. #TataSons has filed an expression of interest to rescue the cash-strapped national carrier.

The company has been unprofitable since its launch in 2014. In FY20 results, #TataSons said that the pandemic completely eroded the #AirAsia India net worth, and its auditor raised the red flag about the JV’s ability to continue.
The #TataGroup also invested nearly ₹490 crore in #AirAsia India in FY20, while the JV posted a loss of ₹317 crore in the same period.

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More from @BiIndia

30 Dec
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@pabsgill This could spell good news for India, who has been keeping its eye on the #UK, while its own approval of the vaccine is pending.

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By @pabsgill Image
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Samples from Delhi show the highest frequency with eight cases testing positive for the new strain in the national capital, followed by NIMHANS in Bengaluru with seven positive cases. Image
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The critical sixth round of talks scheduled to take place on December 29 has now been postponed to December 30 at the government’s request.

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