Refiled to take away repeated phrases within the first paragraph
Refiled to take away repeated phrases within the first paragraph
KUALA LUMPUR, Dec 29 (Reuters) – Malaysian finances airline AirAsia Group Bhd AIRA.KL mentioned in a bourse submitting on Tuesday it plans to promote 32.67% of its stake in its Indian operations to Tata Sons TATAS.UL for $37.7 million.
The airline, which beforehand owned 49% of AirAsia India as a part of a three way partnership with Tata Sons, mentioned the sale would permit the corporate to concentrate on its restoration in its key Southeast Asian markets amid the influence of the COVID-19 pandemic on journey.
“The Administrators having thought-about the rationale for the Transaction and after cautious consideration, are of the opinion unanimously that the transaction is in the perfect curiosity of AirAsia and its shareholders,” it mentioned.
The announcement comes two months after AirAsia shut its operations in Japan, citing extremely difficult situations amid the pandemic.
(Reporting by Rozanna Latiff, modifying by Louise Heavens)
(([email protected]; +61 3 9492 9423 ; Reuters Messaging: @rozlatiff on Twitter))
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