Regions

AirAsia CEO on Tata-SIA MoU: non-issue

September 28
10:29 AM 2013

According to Air Asia Group CEO Tony Fernandes, the Tatas signing a Memorandum of Understanding with Singapore Airlines was 'no issue' between him, the airline and the conglomerate.

In a message made public through Twitter, Fernandes said, "I have and continue to have no issue on SIA (Singapore Airlines) and Tata. No difference to Ginger and Taj Hotels. These are two very separate businesses."

Tata Sons is the holdings firm of the conglomerate Tata Group. It signed a memorandum of understanding with Singapore Airlines to form a joint venture to start a a full service airline to service the sub-continent. The new venture would be called Tata SIA Airlines. The MoU would have Tata Sons as the majority owner at 51% while SIA would hold 49%, after infusing USD49 million in foreign direct investments.

n the other hand, Fernandes' AirAsia India would be conducting its first board meeting today. Fernandes said, "(The) first AirAsia India Board meeting. Superb cooperation betwen partners. I am confident we will make profits in first year and change aviation." He did add he would not be attending the meeting, as he was in Indonesia.

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