Malaysian carrier AirAsia is reviewing its joint venture with Tata Sons indicating a possible exit from the fifth largest economy of the world, which it entered with many expectations six years ago. Its Indian operations are declining in cash. AirAsia owns 49% of the India unit, which was not yielding the desired profit causing financial stress, while Tata Sons holds the remaining 51% share. Tata Sons may buy out AirAsia after it showed its reluctance to invest fresh funds into the joint venture.
AirAsia signals ending its joint venture with Tata sons
November 18, 2020