Air India Express-AIX Connect merger done to form larger low-cost carrier

Air India Group has successfully completed the operational integration and legal merger of Air India Express Ltd and AIX Connect Pvt Ltd, formerly known as AirAsia India, into a larger low-cost carrier, the Tata-owned company said in a statement.Aviation regulator Directorate General of Civil Aviation (DGCA) earlier on Tuesday also stated that the merger of AIX Connect with Air India Express has been completed. The authority has granted the requisite regulatory approval for the merger.“The successful integration and merger of AIX Connect with Air India Express is commendable and serves as a benchmark for airline mergers. India’s rapid evolution into the world’s third largest aviation market calls for a robust regulatory regime. Accomplishing this milestone given the complexities involved, is testimony to the efforts put in by teams from both the DGCA and the operator,” said Vikram Dev Dutt, Director General, DGCA.The creation of the newly merged entity, operating under the…