AirAsia may exit India JV
Published on: Wednesday, June 24, 2020
By: The Edge
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Credit: Bernama
Kuala Lumpur: AirAsia Group Bhd Group Chief Executive Officer (CEO) Tan Sri Tony Fernandes hinted that the budget airline may exit its India joint venture (JV) because India is deemed a peripheral market for the group.

“We would never say that we would never exit India,” Fernandes was quoted as saying in a Credit Suisse report.

AirAsia Group’s India JV is undertaken via Airasia (India) Ltd under a partnership with Tata Sons Private Ltd.

According to AirAsia Group’s annual report, the group owns a 49 per cent stake in Airasia India.

News reports today cited the Credit Suisse report on Monday, which quoted Fernandes as saying during a global conference call organised by Credit Suisse that AirAsia had a good partner in Tata and they were looking for an international licence.

It was reported that an AirAsia India spokesperson was not available for comments.

As at the time of writing, AirAsia Group’s share price had fallen one sen or 1.1pc to 89.5 sen on Bursa Malaysia on Tuesday, with a market capitalisation of about RM3 billion. The stock saw some 15 million shares traded. 


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