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AirAsia in final talks with Tata Group to exit India: sources

Malaysian budget carrier winding down presence amid market challenges, COVID

An AirAsia flight takes off from Indira Gandhi International Airport in New Delhi. The Malaysian carrier has faced fierce competition in India.   © AP

KUALA LUMPUR -- Frill-free carrier AirAsia is in the last lap of negotiations to sell its remaining stake in AirAsia India to its joint venture partner Tata Group, two sources close to the matter told Nikkei Asia.

The Malaysian company holds 16.33% of AirAsia India, while Tata currently controls 83.67%. Talks between the two sides began earlier this year and gained momentum after the Indian government announced Tata's successful bid to take over national flag carrier Air India last month, said the sources, who requested anonymity.

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