Low-cost airline AirAsia India has been in the news for all the wrong reasons since its launch over two years ago.
The latest revelation by the airline that an investigation was being carried out against former executives which confirmed former Tata Sons’ Chairman Cyrus Mistry’s statement in an e-mail to the board that a probe had revealed fraudulent transactions worth ₹22 crore, clearly shows that the airline was busy fighting internal battles which reflected on its overall performance.
Source inside the airline told BusinessLine that the ongoing probe did not prevent the board from giving its then CEO Mittu Chandilya additional charge.
In August last year, the airline board not only gave him the additional post of managing director but also inducted him into the board.
This, however, did not prevent Chandilya from quitting the post during February this year.
The investigation was carried out for nearly six months.
31/10/16 K Giriprakash/The Hindu Business Line
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The latest revelation by the airline that an investigation was being carried out against former executives which confirmed former Tata Sons’ Chairman Cyrus Mistry’s statement in an e-mail to the board that a probe had revealed fraudulent transactions worth ₹22 crore, clearly shows that the airline was busy fighting internal battles which reflected on its overall performance.
Source inside the airline told BusinessLine that the ongoing probe did not prevent the board from giving its then CEO Mittu Chandilya additional charge.
In August last year, the airline board not only gave him the additional post of managing director but also inducted him into the board.
This, however, did not prevent Chandilya from quitting the post during February this year.
The investigation was carried out for nearly six months.
31/10/16 K Giriprakash/The Hindu Business Line
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