Tatas inch closer to acquiring Air India

Moving a step closer towards its goal of acquiring beleaguered airliner Air India, Tata Sons has raised its stakes in AirAsia India Limited (AAI) – a joint venture with Malaysian budget airline AirAsia Group – by acquiring an additional 32.67 percent stake for 37.7 million dollars, thus increasing its stake to 83.67 per cent. Tata Sons has already evinced its interest in bidding for the national carrier, which may be later merged with AAI and the Group’s another airline venture Vistara.