AirAsia India set to get fresh funds for expansion drive
Promoters of AirAsia India have agreed to invest fresh funds in the airline as it aims to expand fleet and fly abroad, the company’s CE said. “It’s the start of our next chapter in India. We have been very categorical in stating that we get new aircraft as soon as possible,” CE Amar Abrol said. Abrol declined to reveal the quantum of investment, but said it can run into “multiples of million dollars”. Abrol took charge of the India operations in April after Mittu Chandilya quit the company. Overseas flights fetch better margins; however, India’s aviation policy for long have barred airlines from flying abroad until they gained 5 years of domestic flying experience and 20 aircraft. The policy, often called the 5/20 rule, was diluted in July, removing the 5-year part. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-08-29/unaligned/airasia-india-set-to-get-fresh-funds-for-expansion-drive
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AirAsia India set to get fresh funds for expansion drive
Promoters of AirAsia India have agreed to invest fresh funds in the airline as it aims to expand fleet and fly abroad, the company’s CE said. “It’s the start of our next chapter in India. We have been very categorical in stating that we get new aircraft as soon as possible,” CE Amar Abrol said. Abrol declined to reveal the quantum of investment, but said it can run into “multiples of million dollars”. Abrol took charge of the India operations in April after Mittu Chandilya quit the company. Overseas flights fetch better margins; however, India’s aviation policy for long have barred airlines from flying abroad until they gained 5 years of domestic flying experience and 20 aircraft. The policy, often called the 5/20 rule, was diluted in July, removing the 5-year part. <br/>
