This transaction will ensure strict cost containment for AirAsia Group in the short term and strengthen our presence in ASEAN while continuing our market dominance for travel from Asean to India and North Asia," said Lingam. Tata's move to consolidate its control in AirAsia India comes at a time when the group has shown preliminary interest in acquiring state-owned Air India in the ongoing divestment process. "As part of the transaction, there will be a call option regarding Air Asia Investment Limited (AAIL's) remaining 16.33% stake in AAI, exercisable by TSL at any time after the transaction is completed.