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We want Ratan Tata to head JV, says AirAsia chief: Report

Last Updated: Friday, February 22, 2013 - 14:21

Zeebiz Bureau

New Delhi: The chairman of Malaysian carrier AirAsia Anthony (Tony) Fernandes has said that he will convince Ratan Tata, chairman Emeritus of Tata Sons to become the chairman of the new career post their joint venture, a business daily has reported.

AirAsia has sought government's nod to launch a new Indian airline in a joint venture (JV) with Tata Group and Telestra Tradeplace.

Tony said that Ratan Tata would be the “right person” for the job since the latter would bring “confidence” to government, regulators as well as flyers, the paper added.

AirAsia CEO Tony Fernandes yesterday said his company would initially invest between USD 30-50 million in the proposed airline that would launch operations with three to four Airbus A-320 aircraft. "We will scale up (the fleet) quickly thereafter."

Of the 51 percent stake, Tata Sons is likely to pick up 30 percent equity and one of Bhatia's companies, Hindustan Aerosystems, the remaining 21 percent.

The airline would be based in Chennai and in the initial phase concentrate on destinations in South India where AirAsia already operates, Fernandes said in a global teleconference from Malaysia.

With Agency Inputs

First Published: Friday, February 22, 2013 - 14:14
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