The proposed combination envisages the acquisition of the entire equity share capital of AirAsia (India) Private Limited by Air India Ltd. (AIL), an indirect wholly owned subsidiary of TSPL. At present, TSPL holds 83.67% of the equity share capital of Air Asia India.
Air Asia India is a joint venture between TSPL and Air India Investment Limited (AAIL). In which presently the TSPL is holding 83.67% share and AAIL is holding 16.33% shares in shareholding. It is also engaged in the various businesses in providing the following services:
(a) domestic scheduled air passenger transport service,
(b) air cargo transport services, and
(c) charter flight services in India.
Air-Asia India does not provide scheduled air passenger transport services on international routes.
AIL, along with its wholly-owned subsidiary, Air India Express Limited (AIXL), is primarily engaged in the business of providing (a) domestic scheduled air passenger transport service, (b) international scheduled air passenger transport service, (c) air cargo transport services in India, and (d) charter flight services in India.
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