How tycoon’s AirAsia India airline venture hit turbulence
Tony Fernandes thought he was on to a winner when he launched his budget airline AirAsia in India in 2014. A Malaysian tycoon of Indian heritage, he had reason to think he understood the country’s domestic aviation market, which was on the cusp of an enormous boom in passenger numbers. And in Tata, India’s largest and possibly its most respected conglomerate, he appeared to have found the perfect local partner. Four years later, however, Fernandes stands accused of being part of a “criminal conspiracy” that allegedly involved illegally controlling the company from Singapore and bribing public officials to get them to relax India’s strict aviation rules. The allegations have knocked hundreds of millions of dollars off AirAsia’s market value and have threatened Tata’s reputation as a well-governed company. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2018-06-01/unaligned/how-tycoon2019s-airasia-india-airline-venture-hit-turbulence
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How tycoon’s AirAsia India airline venture hit turbulence
Tony Fernandes thought he was on to a winner when he launched his budget airline AirAsia in India in 2014. A Malaysian tycoon of Indian heritage, he had reason to think he understood the country’s domestic aviation market, which was on the cusp of an enormous boom in passenger numbers. And in Tata, India’s largest and possibly its most respected conglomerate, he appeared to have found the perfect local partner. Four years later, however, Fernandes stands accused of being part of a “criminal conspiracy” that allegedly involved illegally controlling the company from Singapore and bribing public officials to get them to relax India’s strict aviation rules. The allegations have knocked hundreds of millions of dollars off AirAsia’s market value and have threatened Tata’s reputation as a well-governed company. <br/>
