Thursday, February 11, 2016

Tony Fernandes optimistic on India despite bad press

Kuala Lumpur: AirAsia supremo Tony Fernandes has dismissed media reports that all is not well in his paradise in India. “All publicity is good, even bad publicity.”
Fernandes implied that The Economic Times of India (ET), in particular, was trying to pummel him into the ground and pitting him against shareholders in India. “It is really an Indian shareholder thing because we cannot increase our shareholding,” he told ET in a Q&A interview. “We can’t increase our shareholdings in India. If one of the shareholders wants to opt out, they can sell to the existing Indian shareholders.
“The Economic Times newspaper has been hammering us all the time. All I know is that things are going to be resolved very soon.”
He was referring to reports that Bhatia, an Indian shareholder, wanted to opt out of AirAsia India and that Tata wants to increase its stake in the airline. “That you have to ask the Tatas. We had a recent board meeting in Kuala Lumpur. All I can say is that you can ask the Tatas themselves. I think they are very happy with how AirAsia India was going.”
Fernandes added that he was not deterred by India’s 5/20 rule. According to the “5/20 rule”, all airlines in India are permitted to fly abroad only if they have five years of domestic flying experience and at least 20 aircraft in their fleet.
11/02/16 Free Malaysia Today
To Read the News in full at Source, Click the Headline