Air Asia rejects acquisition speculation

Neelam Mathews

Nov 26, 2012

In typical Tony Fernandes, no-nonsense style, the LCC tsar put media speculation to rest with a statement-

AirAsia would like to enlighten the public and its shareholders on the speculation that has been actively spreading in regards to the purchase of an Indian budget carrier.  

AirAsia Group Chief Executive Officer Tony Fernandes said: “AirAsia rejects the speculation surrounding our possible expansion in India. These reports are completely incorrect. AirAsia has not submitted a bid for the Indian budget carrier, and has no intention of doing so."

Hopefully, the Indian government will question its ill-conceived aviation FDI policy that is restrictive and insular, and one that permits only existing players- many in the pits- to tap foreign investment.