To buy out Arun Bhatia’s share and get 51% stake along with its board nominees Tata Sons will soon be in the pilot’s seat of AirAsia India, holding 51 per cent stake in the low-cost airline. At present, it has 41.06 per cent. It will acquire 7.94 per cent from Arun Bhatia-controlled Telestra Tradeplace. The remaining two per cent of Telestra’s stake will be acquired by Tata veterans and AirAsia board members S Ramadorai (0.5 per cent) and R Venkataramanan (1.5 per ... Rediff.com, 2 months ago
Indian shareholders in control of airline, not us: AirAsia - Rediff.com, 1 month ago
Can Tata Sons steer AirAsia India out of turbulence? - Rediff.com, 2 months ago
June 2015 deal handed over HR, accounting, revenue management to AirAsia Global Services for Rs 10 crore (Rs 100 million) a year AirAsia India had to pay an annual fee of Rs 10 crore (Rs 100 million) to AirAsia Global Services -- a subsidiary of its Malaysian partner AirAsia Bhd -- for services it should have ideally handled on its own. The 'services', according to informed sources, included finance support, human resources, revenue management, cancellation and refunds. According to ...Rediff.com, 1 month ago
The civil aviation ministry is likely to abolish the ‘5/20 rule’ that restricts companies from flying abroad unless they have flown in India for five years and have a fleet size of 20 aircraft, according to sources. “The 5/20 rule in its present form will not exist for sure,” said a senior official, with the civil aviation ministry, adding: “To ensure that the older airlines do not complain, some form of restrictions will be there.” According to him, the ...Rediff.com, 1 month ago
Mumbai, Chennai, Delhi have no capacity or slots for new airlines Infrastructure at three key metro airports in India is proving to be a hindrance for new airlines. New entrants do not have slots to operate flights at these airports even as passenger traffic continues to grow in double-digits. The situation is worst in Mumbai, which has a single runway and is equipped to handle only up to 45 aircraft movements per hour. Though there are guidelines for allocation of landing and takeoff ...Rediff.com, 1 month ago
His rare outburst on Twitter against older airlines opposing any changes to the 5/20 rule has drawn the attention of friends and foes alike It is not every day that Ratan Tata engages in a verbal duel with his rivals. The last time he had differences with his peers was in 2002 when the GSM lobby of telecom operators went up in arms against the government’s decision to allow fixed-line operators to offer mobile services -- his stand was that nobody should build a case against a technology ...Rediff.com, 2 months ago
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