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Informist, Tuesday, Jun 11, 2024
NEW DELHI – The Chandigarh bench of the National Company Law Tribunal today approved the merger of AIX Connect Pvt Ltd, formerly AirAsia India, with Air India Express Ltd. Both the companies are part of the Tata group. The tribunal had last week approved the merger of Tata SIA Airlines, which operates under the brand name Vistara, with Air India. The tribunal also approved Singapore Airlines acquiring a certain shareholding in Air India.
In November 2022, Tata Sons started the process of consolidating its airline entities Vistara, AirAsia India, and Air India Express under Air India, following a series of discussions with Singapore Airlines, its joint venture partner in Vistara.
"Upon the sanction becoming effective from the appointed date of amalgamation i.e., Nov 29, 2022, the transferor company shall stand dissolved without undergoing the process of winding up on completion of merger and associated formalities after receipt of necessary approvals including as required by DGCA/MCA/any other authority within a period of 8 months from the date of this order," the tribunal said today.
AIX Connect operated as a domestic low-cost carrier ferrying passengers and cargo and with a network extending to 19 destinations in India. AIX Connect also operated non-scheduled cargo charter flights in international sectors, upon approval of the Directorate General of Civil Aviation.
Air India Express operates as an international low-cost carrier with the objective of providing connectivity to short and medium haul international routes in the Gulf and Southeast Asia at affordable fares with a network extending to 34 destinations. End
Reported by Surya Tripathi
Edited by Ashish Shirke
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