|  |  |  |  | 

Business Exclusive Headlines News

AirAsia Indian head is Chennai lad

Chennai/ New Delhi, Mar 6 () : AirAsia- Tata JV has found a person to head its operations in India . Tony of AirAsia revealed that the man heading the operations is a young guy from Chennai with excellent background. The new airline with headquarters in Chennai is to operate on tier 2 and tier 3 cities and feed its international flights to South East Asia.

Jet Airways, the country’s second largest airline by passenger traffic, has added two ATR planes from a company that had it to Kingfisher. As per Indian aviation law, the leasing companies cannot take back the planes till the dues with the airport authority are cleared.

Jet Airways taking advantage of this rule got to lease these planes at a cheaper rate. The two ATR 72-500s were earlier leased to Kingfisher Airlines. Kingfisher has not been flying since October 1 last year. The leasing companies are however allowed to lease it out to other Indian companies. The aircrafts painted with the Kingfisher logo are now being repainted with Jet Airways livery at a painting facility in Hyderabad.

Already Jet Airways got permission from DGCA to operate in the six international slots and two in domestic sector held by Kingfisher. UAE, Singapore, Thailand and UK are the few slots that were given to Jet.

Jet Airways is close to selling 24% stake to Etihad Airways. As a first step, it sold two slots in Heathrow airport to Etihad for $70 million and took it back on lease. Etihad is asking for four directors on board. The UAE airline was assured by aviation ministry that there was no policy change since it was passed by Parliament.

UAE investors are unhappy after their telecom firm Etilsat lost heavily after the 2G scam and resultant change in spectrum auction. Union Commerce minister Anand Sharma recently held a road show in Dubai and allayed the investors’ fear about investments.