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
Can Tata Sons steer AirAsia India out of turbulence? - Rediff.com, 2 months ago
At the heart of the current controversy is the government's FDI rule Under fire on charges of violating India's foreign direct investment (FDI) norms, AirAsia said on Friday that its majority Indian shareholders — Tata Sons and its executives — were in control of the airline. It also blamed ‘vested interests’ for stifling the airline’s growth in the country. Giving reference to his interaction with Prime Minister Narendra Modi, the airline's group chief executive ...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, 2 months 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, 2 months ago
Relaxation of 5/20 would impact Jet more than other airlines. Competition is set to increase on international routes, with the government relaxing the 5/20 rule which prevented domestic airlines from flying abroad unless they had at the least five years’ experience in domestic operations and a fleet of at least 20 aircraft. Vistara and AirAsia India have been lobbying for the relaxation of this rule. Their foreign expansion will impact Jet Airways more than other private airlines, as it ...Rediff.com, 1 week 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, 2 months ago
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